Friday, November 05, 2010

Market comments for Nov. 5th

The economic data released today was one of the best months we have seen in a long time. Yet, so far today, the market response has been muted with the Dow down a few points as well as the S&P and the Nasdaq. here's the highlights of the data.

The Unemployment rate for Oct. remained at 9.6%. Over 159,000 Private sector jobs were added in October. This makes 10 straight months of Private Sector job creation has occurred. That makes over 1.5 million jobs created so far in the past year.

Non Farm payrolls increased 151,000 jobs for October. Hourly Earnings increased 0.2%, while the Average workweek increased to 34.3 hours in October from 34.2 hours for Sept.

Pending Home Sales data will be released in 15 minutes and later this afternoon, Consumer Credit data will be released.

The Dow is down about 13 points right now as I publish this post.

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