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Dow Jones Roller Coaster Ride, Phillies Defeat Giants, and Mike Patterson Released From Hospital


The Omelette Friday August 5, 2011

Stock Market Down Despite Postitive Jobs Report...Recession Fears Increase

With a net gain in 117,000 jobs in July beating most analyst's expectations, it was thought that the Stock Market would stop falling. Wrong! Global economic fears are causing more to sell as the Dow was down once again. 

According to CNN Money, volatility in the stock market is back. Despite the positive unemployment numbers, the economic woes in Europe caused stocks to fall today. According to the BBC, there are three crises which are prompting the global market slide: Europe's economic instability, a looming "second credit crunch", and de-risking.

At one point today, the Dow was down 200 points after yesterday's awful 500-point dip, which was the worst day in 3 years. The Dow Jones Industrial Average was at -56.69 points just 20 minutes ago and now it's up 23 points on the day! Talk about a roller coaster ride.

Plenty can happen with nearly 3 1/2  hours of trading to go. Buckle your seatbelts - this is going to be a wild ride.

Phillies Defeat Giants 3-0 Behind Cliff Lee's Shutout

Cliff Lee had to step up in a big way out in San Francisco last night, which he did. He tossed a complete-game shutout as the Phillies took game one of the series 3-0 to win their 7th straight game. Giants young stud Madison Bumgarner held the Phillies' bats largely in check, but he was no match for General Lee.

This is the biggest series of the year for the Phillies. Even though they have the NL East in hand, they have to at least split this series with the Giants. It's not out of line to say they should win the series, but a split would go a long ways after their embarrassing series defeat at home last week to the Giants.

Vance Worley takes the hill tonight against Jonathan Sanchez, but the real test will come when the Phillies face Matt Cain on Saturday and Tim Lincecum on Sunday.

Eagles Mike Patterson Released From Hospital

After being diagnosed with an AVM (arteriovenous malformation in the brain) Mike Patterson was released from the hospital.

Eagles trainer Rick Burkholder wouldn't say one way or the other when Patterson would be able to play, but his agent remains optimistic that he hopes to resume team activities soon.

Two days ago, Mike Patterson was rushed to the hospital after suffering a seizure up at Lehigh. Doctors then determined that the seizure was a result of the AVM in his brain, which is an abnormal malformation of veins and arteries in the brain.

Contact Dennis Bakay at dbakay@philly2philly.com

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