(As of 6:45 am pacific)
The news is mostly positive
this morning and it looks like we will be adding to the gains of yesterday’s
rally. New jobs creation came in better
than expected while the employment rate crept up from 7.8 to 7.9%. This provides fodder for both Presidential
candidates as the campaign winds down to next week’s election. Besides the employment data, there were
several positive earnings reports of note yesterday which should add to today’s
positive momentum. Gold is down nearly
twenty dollars an ounce, oil is down slightly and interest rates are surging as
the different markets react to better than expected news. The dollar is generally stronger against
other global currencies. There is little
investor concern at this point related to the coming election or the looming
fiscal cliff.
