The Stock Rabbi writes about the lessons of the Talmud and breakout stocks. Follow him here.
Filling in for JB here, if only so I could inject a bit of Yiddish fatalism into today’s jobs number debacle.
Here’s Bloomberg (presumably named for a member of the tribe) with the details:
Payrolls increased by a less-than-projected 54,000 last month, after a revised 232,000 gain in April that was smaller than initially estimated, Labor Department figures showed today in Washington. The median forecast in a Bloomberg News survey called for payrolls to rise 165,000. The jobless rate climbed to the highest level this year from 9 percent a month earlier…Estimates in the Bloomberg survey of 89 economists ranged from gains of 65,000 to 250,000. The unemployment rate was forecast to drop to 8.9 percent, according to the survey median. Estimates ranged from 8.7 percent to 9.1 percent.
The one bright spot is that it’s Friday and Miriam is picking up a rotisserie chicken from Safeway rather than poisoning us all tonight with one of her home-cooked “creations”.
Markets are down 1% plus, be careful out there and always ask for a receipt.