(As of 7:24 am pacific)
In a new twist, it’s positive
news from Europe this morning that is propping up a US market that has been hit
with a couple of jolts this morning.
German production increased more than expected and there was good news
from Great Britain as well on industrial activity. In big news on the domestic scene, tech giant
Intel announced a significant downward revision in projected revenue and has
fallen about 3%. On the economic front,
new jobs created came in less than expected at 96,000 vs the projected
125,000. This figure surprised
especially because ADP reports had indicated a more positive projected
outcome. Gold is up big while oil is
down slightly. The dollar is down
against most currencies while interest rates are flat. The markets are hoping that these negative
reports will prompt a new round of quantitative easing from the Fed and have
been holding steady in light of a Friday morning full of dismal economic
news. Markets should drift lower as the
day goes on.
