Here at Dealbreaker, we considered going all-SAC, all-the-time today. There's nothing we like better than to dissect, parse and analyze salacious and possibly totally unfounded allegations, even at the risk of making the Big Guy mad.
But there's other stuff going on, boring though it might be. Jobs figures, for instance, which always seem to send everyone into a frenzy.
Especially when it's "good" news. To wit: Employers canned just 11,000 people last month, less than one-tenth the number expected and fewer than in any month since 2007, when we still had an economy. Even better news: A handful of the unemployed have just given up looking for work, helping nudge the unemployment figure down two-tenths of a percent to 10%. Those of us suckers who are actually working about 12 minutes more per week, too! Bully!
That news, combined with a slight uptick in U.S. factory orders, briefly sent the markets into a tizzy, with the Dow soaring 150 points in about 15 minutes. Then, investors thought better of it and took profits, sending the Dow into negative territory.
But that's not all: Dollar? Up. Crude? Up (also only briefly). Treasuries? Down. Gold? Down.
Can't wait until the recovery actually happens. And now, let's send it back to Stamford.
Unexpected drop in jobless rate sparks optimism [AP via Google]
Almost Creating Jobs! [Forbes]
Unemployment Rate Falls to 10% [WSJ]
U.S. factory orders, inventories rise in Oct [Reuters]
U.S. stocks turn negative; investors take profits [MarketWatch]
Dollar soars after unemployment rate drops [AP via Google]
Crude Oil Falls as Dollar Surges on U.S. Unemployment Decline [Bloomberg]
Looming supply, jobs optimism hits bonds [Reuters]
Gold Below $1,200 After Jobs Data [WSJ]