sp'60min
Summary
*my estimate remains 236k, with 6.9%....
Actual: 74k... headline rate drops to 6.7%........... Wahhhhhhhhhhhhhh?
That's a truly lousy number considering it was Christmas season. Naturally, the headline rate still dropped. Overall, ...truly......this number stinks for the notion of a econ-recovery..at what should be one of the strongest times of the year.
Participation rate: 62.8%..a new low.
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Notable early movers: SHLD: -12% ANF: +14% AA: -6.5
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Video update from Oscar
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8.37am.. indexes slip from sp +9pts to -2pts...
Obviously.. a break <1830...opens up 1820/18..
Certainly, this number is bad..and as even clown finance TV are asking..why are Fed tapering?
Metals are climbing on the bad news...Gold +$14...although it remains a clear $25/30 below old broken support.
8.44am.. price action...is showing only marginal concern with the lousy jobs data. Indexes are back to fractional gains..and hey...is this now going to be a 'bad news is good news' day?
After all.. taper is off the table for the FOMC of late January'..yes?
8.58am.. sp +5pts....the indexes have fully stabilised after the bad news, and we're set to climb..the only issue is whether we can punch through 1850..today.
9.32am...with the jobs uncertainty out of the way..VIX is -2.5%.. the 11s are due.