Jobs Disappoint!
By Mike Conlon | June 4, 2010
US Non-Farm Payrolls came in at a less than expected 431K vs. an expectation of 520K. While this does reflect job growth from last month’s gain of 220K, the number is disappointing as census workers were included in this reading. This shows that job growth in the private sector is not happening as quickly as the market would like to see and offers proof that we may be in a “jobless recovery”. […](more)
Stock Markets Soar!
By Mike Conlon | June 3, 2010
So much for yesterday being an “inside day”. The US stock market made a major afternoon move to the upside, all but rendering my assessment from yesterday useless. This set the stage for other world stock markets with both Asian and European indices higher this morning as well. Commodities followed suit, with oil reaching 74 and change before pulling back to the 73 level in this morning’s trade. […](more)
Inside Day!
By Mike Conlon | June 2, 2010
Today I’m calling the early market action an “inside day”. While potentially not technically true, today represents a pause in market action from the overall down trend. So today looks like a mild risk-taking event but in reality it’s more of a pause than anything. […](more)