The under/over on the number seems to be pegged at around 175k jobs lost. Yesterday’s market seemed to telegraph a real confidence into today’s coming session. My thinking that we would be “choppy to down” yesterday could not have been more wrong. Odd behavior after after Wednesday’s late sell off, but who ever said the market was normal?
Kass and Cramer called tops yesterday. Kass’s market timing is about as good as my timing……..against a Randy Johnson fastball, and Cramer is just a goof. Hard not to go the other way on those two.
A bullish jobs number will probably give us a lower dollar and a higher market today, unless we sell the news. LOL, always fun to go to work.
Have a great weekend with your families.
Friday, November 06, 2009
Economic
8:30am Oct Nonfarm Payrolls (last -263K), Oct Unemployment Rate (last 9.8%), Oct Manufacturing Payrolls (last -51K), Oct Average Hourly Earnings (last m/m 0.1%, y/y 2.5%)
10:00am Sept Wholesale Inventories (last -1.3%)
3:00pm Sept Consumer Credit (last -$12.0B)
Events
9:45am Fed’s Evans speaks at community bankers conference in Chicago. 11:30am Fed’s Duke speaks at community bankers conference in Chicago. Trades Ex-dividend: IBM $0.55, AEP $0.41, VLO $0.15, PPG $0.54.
Earnings
Before the Open: AER, AYR, BEXP, BAM, BX, XTEX, DM, EIX, EXLS, FIG, KELYA, KNOL, LPNT, LMIA, MAG, MCCC, MDCI, MIR, NNN, PRX, PSMT, SNN, SEP, SUI, SU, TNP. After the Close: ROSE.