Author Topic: Bulls Ride Jobs Wave  (Read 1400 times)

Benny B

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Bulls Ride Jobs Wave
« on: April 05, 2010, 08:32:52 AM »
Bulls Ride Jobs Wave
Ty Wenger
04/05/10 - 09:24 AM EDT


NEW YORK (TheStreet) -- The jobs data released Friday appear to have lifted the spirits of investors banking on an economic recovery as our weekly sentiment survey is leaning predominantly bullish.

As of 9:15 a.m. when the poll closed, survey participants who were bullish tallied 845, or 60.4%, of the 1,400 votes cast in TheStreet.com's RealMoney Barometer Poll. Bears scored 385 votes, or 27.5% of the total votes, while survey-takers who were neutral racked up 170 votes, or 12.1%.

While it may have been below some estimates, the nonfarm payrolls data for March that showed that 162,000 jobs were created was the largest seasonally adjusted increase in nonfarm payrolls in three years. The U.S. unemployment rate held steady at 9.7%.

Investors in Tokyo took kindly to the news as the Nikkei 225 stock average finished higher by 0.5% Monday. Markets in Hong Kong and China were closed, as were most European markets, including London.

Premarket futures suggest stocks on Wall Street will open higher Monday, after the majors indices tacked on gains last week. Monday is the first day Wall Street will get to trade on the jobs numbers, as the stock market was closed for Good Friday, the day the jobs data was released.

As the new trading week gets set to begin, Wall Street also was looking to another jobs -- Apple's(AAPL) Steve Jobs that is -- as the CEO of the technology company saw the release of his latest creation -- the iPad -- over the weekend. Apple said sales of the iPad were 300,000 on Saturday.

The week is light for earnings reports, Bed Bath & Beyond (BBBY) being once exception, but they'll kick into high gear next week when Alcoa(AA) gets things started on April 12, and Bank of America (BAC), JPMorgan(JPM) and Intel(INTC) join in later in the week.

Commercial banks was the sector viewed by survey-takers as the most likely to rise this week, with precious metals seen as the sector most likely to decline.
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GigantorX

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Re: Bulls Ride Jobs Wave
« Reply #1 on: April 05, 2010, 09:45:52 AM »
We already dissected the jobs "report" that was released.

It wasn't really all that good.

Soul Crusher

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Re: Bulls Ride Jobs Wave
« Reply #2 on: April 05, 2010, 09:53:56 AM »
Benny has the knee pads out. 


Benny B

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Re: Bulls Ride Jobs Wave
« Reply #3 on: April 05, 2010, 10:05:48 AM »
We already dissected the jobs "report" that was released.

It wasn't really all that good.
Who cares. While you're arguing about "being right" we're making money.

I'm not in control of investor sentiment. lol
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Soul Crusher

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Re: Bulls Ride Jobs Wave
« Reply #4 on: April 05, 2010, 10:43:04 AM »
This guy in his basement knows a hell of lot more than you. 


Benny B

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Re: Bulls Ride Jobs Wave
« Reply #5 on: April 05, 2010, 10:56:59 AM »
U.S. Stocks Gain as Economy Data Signal Strengthening Recovery
April 05, 2010, 1:28 PM EDT
By Whitney Kisling

April 5 (Bloomberg) -- U.S. stocks rose, with the Standard & Poor’s 500 Index climbing to an 18-month high, as the biggest increase in jobs in three years and growth in service industries and home sales boosted optimism about the economy.

Caterpillar Inc., American Express Co. and General Electric Co. helped lead gains that also sent the Dow Jones Industrial Average to the highest level since September 2008. Apple Inc. advanced after saying it sold 300,000 iPads on the device’s first day of availability. ConocoPhillips and Exxon Mobil Corp. climbed as crude oil reached its highest price in 17 months.

“What we’ve got with this jobs number is a very robust confirmation of something we’ve been talking about since the third quarter of 2009 -- and that’s a global economic expansion,” said Stephen Wood, who helps manage $176 billion as chief market strategist for Russell Investments in New York. “This is probably one of the final pieces of confirming data, and stocks are benefiting.”

The S&P 500 advanced 0.7 percent to 1,186.64 at 1:23 p.m. in New York. The Dow Jones Industrial Average climbed 42.17 points, or 0.3 percent, to 10,969.24. The S&P 500 rose 1 percent last week and the Dow increased 0.7 percent.

U.S. payrolls rose by 162,000 last month, less than forecast, after a revised 14,000 decrease in February that was smaller than initially estimated, figures from the U.S. Labor Department showed on April 2. The March increase included 48,000 temporary workers hired by the government to help conduct the 2010 census. The unemployment rate held at 9.7 percent.

Service Industries, Home Sales

Other reports today showed faster-than-estimated growth in service industries and an unexpected increase in pending U.S. home sales.

“This environment of continued improvement in the economy, combined with still low interest rates and improving corporate profits, represents a sort of ‘sweet spot’ for risk assets,” Bob Doll, vice chairman and global chief investment officer for equities at New York-based BlackRock Inc., which oversees $3.4 trillion, wrote in a note today. “It makes sense for investors to continue overweight equities.”
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Bindare_Dundat

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Re: Bulls Ride Jobs Wave
« Reply #6 on: April 05, 2010, 11:15:05 AM »
Who cares. While you're arguing about "being right" we're making money.

I'm not in control of investor sentiment. lol

You aint making shit.

Benny B

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Re: Bulls Ride Jobs Wave
« Reply #7 on: April 05, 2010, 05:44:22 PM »
You aint making shit.
It's "You aren't making shit," and how would you know? lol

Bitterness is not attractive, Ziggy.
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