Euphoria in this type of market is obviously a short-lived phenomenon, as sour U.S. labor data practically derailed yesterday’s onslaught of bullish momentum. Markets zigzagged in a tight range throughout the day after the Labor Department announced that non-farm payrolls gained only 96,000 in August, coming in much lower than expected. Unemployment however, declined 20 basis points to 8.1%, but the drop was largely attributed to more people giving up on their relentless hunt for work. But of course, investors managed to turn this disappointing report into something positive, evoking once again a sense of optimism and quasi-euphoria. Many now believe that today’s blaring red flag will force the Fed to unveil further stimulus measures to help bolster our nation’s road to economic recovery. Whether or not this may be true, markets somehow adopted this theory, pushing equities slightly higher [see the Truth About Leveraged ETFs]. Global Market Overview: Sour Jobs Data Sparks Fed Hopes Despite today’s rough [...] Click here to read the original article on ETFdb.com. Related Posts: ETF Insider: Will Economic Data Derail The Bull Train? Daily ETF Roundup: Markets Clear A Hurdle, China Fails To Medal ETF Insider: No News Could Be Good News Daily ETF Roundup: FXI Soars With Asian Rally, VXX Turns Lower Daily ETF Roundup: FXI Pops With Market, VXX Drops
Euphoria in this type of market is obviously a short-lived phenomenon, as sour U.S. labor data practically derailed yesterday’s onslaught of bullish momentum. Markets zigzagged in a tight range throughout the day after the Labor Department announced that non-farm payrolls gained only 96,000 in August, coming in much lower than expected. Unemployment however, declined 20 basis points to 8.1%, but the drop was largely attributed to more people giving up on their relentless hunt for work. But of course, investors managed to turn this disappointing report into something positive, evoking once again a sense of optimism and quasi-euphoria. Many now believe that today’s blaring red flag will force the Fed to unveil further stimulus measures to help bolster our nation’s road to economic recovery. Whether or not this may be true, markets somehow adopted this theory, pushing equities slightly higher [see the Truth About Leveraged ETFs]. Global Market Overview: Sour Jobs Data Sparks Fed Hopes Despite today’s rough [...]
Click here to read the original article on ETFdb.com.
Related Posts:
