Friday, September 2, 2011

Ugly jobs report

The jobs report came out today and it wasn't pretty. See table below, no new jobs created while expectations were 75K new jobs. Unemployment rate stays unchanged at 9.1%...
Futures were pointing down premarket, so expectations at Wall Street weren't high. The job report drove the market down even further. I'm not expecting a big recovery at this point, with the 3-day weekend ahead of us. We may even see new lows soon.

To be continued...

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