Submitted by Mark Hanna
Courtesy of MarketMontage. View original post here.
Decent August numbers but not great on the revisions; hence who knows what the real August number will be in 30 days. June jobs down by 16K, July down by 58K. Unemployment rate down to 7.3%. Labor force participation at 63.2%, lowest since August 1978. The market seems to like the number since it may mean no tapering soon or at least “less tapering” when it comes. The 10 year Treasury yield is down from nearly 3% to sub 2.9%. If this holds the S&P 500 will be back over the 50 day moving average.
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