Stocks open flat after the major U.S. indexes flirted with 2009 highs on Thursday.

The New York Stock Exchange ended Thursday with a sharp drop. The Dow Jones Industrial average lost 2.09% and the Nasdaq up 3.06%. Investor nervousness about possible corrections and the worries about the unemployment and the future of the economy broke their nerves prompting the sell-off.

U.S. stocks jumped this morning at the NYSE open as investors returned from a long holiday weekend.

This morning the U.S. government reported better than expect job loss data. U.S. employers cut the fewest jobs in July 2009. Nearly 247,000 jobs were cut in July. The U.S. job loss rate dipped to 9.4 percent. Payroll cuts slowed down giving new hope for the economic growth and recovery.

Well, so much for the bears and that head and shoulder top they ranted and raved about only two weeks ago. That old, old widely known chart formation of the DJIA meant, we were told by purist technicians was basically announcing the end of the Western world.

The follow-up of the U.S. stocks after the biggest gain in months was only modest and short lived. However, Citigroup that yesterday pushed the rally is still doing good today. However, investors took some profits today as faith is still lacking about the economic recovery.

U.S. stock prices rose on many of the world's markets Tuesday after a report that troubled Citigroup posted its best financial performance in more than a year in the first two months of 2009.

The Dow Jones Industrial Average closed down 119 points, or 1.66% at 7,062, its lowest close since May 7, 1997.

The good news is that it seems that the Chinese stimulus is taking some effect on the Chinese economy. Stimulus taking hold in China lifts stocks. Shanghai hits a five-month high. The problem with the Wall Street is that the investors, ahead of the three day weekend need to decide if they want to own stocks or sell them. This morning stocks open lower as financial shares remain under pressure and stimulus plan heads to votes in House and Senate.

On January 20th of 2009, as the now president Barak Obama takes the office and inherits the markets in a very bad shape, the trading session was deep in the red as the overall market sentiment turns bad on financial. Financial sector took a hard hit as the recent RBS, Royal Bank of Scotland (RBS.L) had announced the largest loss in UK corporate history.

U..S. stock futures are trading mildly lower heading into the open, indicative of a potentially negative start to the regular session. In overseas trading, Asian markets took a cue from Wall Street, reversing yesterday's losses, while European markets were lifted by mining issue Rio Tinto. In focus this morning are a retail earnings trifecta – featuring Sears Holdings, Big Lots, and Costco Wholesale – and General Motors' plans to cut costs.

The Dow and Nasdaq were moderately lower at midsession after economic reports suggested the U.S. is closer to a recession. A rise in commodity prices is lifting shares of mining and energy companies.