This morning, 1/9/09, the stock market is breaking down due to what I think is a false jobs report. Government Data showed that the USA lost 524,000 jobs in the month of December but told us we lost an additional 150,000 jobs in November bringing the total in November to around 683,000 jobs lost. The same thing happened in October ( revision of around 150,000 lost ). We will know in a month if today's jobs report is accurate.
Furthermore, I am watching next support level of 8500 on the Dow Jones. It looks as though we may test this level today. Keep in mind, during the last week in December, we traded below 8500 for a few days on light volume and bounced so the true support level could be 8350. The Volatility Index is not spiking so it seems as though there isn't much panic, a positive sign.
Shares of Palm are soaring due to a new product introduced at the CES.
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Showing posts with label august jobs report. Show all posts
Showing posts with label august jobs report. Show all posts
Friday, January 9, 2009
Friday, September 5, 2008
August Jobs Report - August nonfarm Payrolls - Unemployment report
August Jobs - Nonfarm payrolls were down 84,000
August Unemployement Rate falls to 6.1%
August average hourly earnings $18.14
August Unemployement Rate falls to 6.1%
August average hourly earnings $18.14
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