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  • Wall Street Breakfast: Must-Know News [View article]
    Fed's Rosengren: We will adjust our policy to fit the economic data as it presents itself. We are on the right path.

    Sept. Nonfarm Payrolls: -263K vs consensus expectation of -175K. Unemployment rate = 9.8%. This was worse even than GS recently adjusted estimate (yesterday) of -250K.

    However, Aug. Nonfarm Payrolls losses were revised downward from -216K to -201K. This was a little bit heartening.

    This could lead to another down day. Factory Orders to come at 10am ET may have a significant impact still. Gold down -$3+. Oil down -$1+. USD Index up +.26% currently. All these things so far set the stage for a down day. Of course, the SPY sank a dollar to $102.08 soon after the non-farm payrolls announcement. We'll have to wait to see where it goes from here.
    Oct 02 08:43 am |Rating: +1 -2 |Link to Comment
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