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November Snapshot - More Bad News for Team Pelosi
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<blockquote data-quote="klein" data-source="post: 766643" data-attributes="member: 23950"><p>Well, here is what Wall Street had to say, but I suppose you are much smarter then them. So, Tie, sell, sell !!!! hurry !!!</p><p> </p><p></p><p>Friday:</p><p>Thanks to better-than-expected data, the mood among market participants has improved drastically since August. In turn, September has started three straight gains for a cumulative climb of more than 5%. </p><p>Jobs figures for August inspired buyers on Friday. The consensus among economists polled by Briefing.com called for nonfarm payrolls to drop by 120,000 in August, but nonfarm payrolls fell just 54,000 instead. What’s more, private payrolls increased 67,000, which is much stronger than the increase of 44,000 that had been widely expected. Despite the stronger-than-expected statistics, the headline unemployment rate remained steady at 9.6%, as expected. </p><p>Encouraging jobs numbers complemented better-than-expected data from earlier in the week, namely upbeat readings on consumer confidence and a strong ISM Manufacturing Index. However, the ISM Service Index for August disappointed this morning. It slipped to 51.5, which is below the 53.0 that had been widely expected. </p><p>Though the ISM Service Index invited some profit taking that caused stocks to pare their gains, buyers stepped back in to boost stocks in afternoon trade and help them settle near session highs. Such a bid gave stocks their fourth straight gain, during which time the S&P 500 has advanced 5.3%. </p><p></p><p></p><p>Read more: <a href="http://www.nasdaq.com/aspx/market-summary.aspx#LATEST#ixzz0ygdSFRZY" target="_blank">http://www.nasdaq.com/aspx/market-summary.aspx#LATEST#ixzz0ygdSFRZY</a></p></blockquote><p></p>
[QUOTE="klein, post: 766643, member: 23950"] Well, here is what Wall Street had to say, but I suppose you are much smarter then them. So, Tie, sell, sell !!!! hurry !!! Friday: Thanks to better-than-expected data, the mood among market participants has improved drastically since August. In turn, September has started three straight gains for a cumulative climb of more than 5%. Jobs figures for August inspired buyers on Friday. The consensus among economists polled by Briefing.com called for nonfarm payrolls to drop by 120,000 in August, but nonfarm payrolls fell just 54,000 instead. What’s more, private payrolls increased 67,000, which is much stronger than the increase of 44,000 that had been widely expected. Despite the stronger-than-expected statistics, the headline unemployment rate remained steady at 9.6%, as expected. Encouraging jobs numbers complemented better-than-expected data from earlier in the week, namely upbeat readings on consumer confidence and a strong ISM Manufacturing Index. However, the ISM Service Index for August disappointed this morning. It slipped to 51.5, which is below the 53.0 that had been widely expected. Though the ISM Service Index invited some profit taking that caused stocks to pare their gains, buyers stepped back in to boost stocks in afternoon trade and help them settle near session highs. Such a bid gave stocks their fourth straight gain, during which time the S&P 500 has advanced 5.3%. Read more: [URL]http://www.nasdaq.com/aspx/market-summary.aspx#LATEST#ixzz0ygdSFRZY[/URL] [/QUOTE]
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