The market indexes have turned
slightly positive going into the second hour of trading today. Oil and gold are also meandering around flat
line, trying to find direction in a day that is lacking much in the way of economic
data. Most of the news and analysis
continues around Friday’s bizarre employment report, which showed a big
surprise of almost no job growth for the prior month. Prior indications and projections indicated
that a large growth in employment was expected. Also surprising was the drop in the
unemployment rate, a contradiction which has occurred in the past due to labor
participation, but was still very unusual.
Markets are still trying to digest this dichotomy and seem very
uncertain this morning. Consolidation
and profit taking are likely to be prime drivers until corporate earnings or
other significant economic data emerges.
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