MARKET CURRENTS
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Friday, February 3, 4:10 PM Market recap: Stocks powered to multiyear highs, with the Dow finishing at its best level since May 2008 and Nasdaq finishing near 11-year highs, buoyed by the jobs report that blew past estimates and solid ISM services data. The dollar reversed gains vs. the euro; 10-year Treasury yields jumped the most since October. NYSE gainers led losers four to one.

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This news story has 18 comments:

jwbrewer Comments (190)

DJI at highest level since 2008...on volume of only a little over 100m shares on a 'big' news day. Who is doing the buying and selling?

3 Feb, 04:20 PM Reply Like

mogando Comments (235)

S&P500 Golden cross happened... VIX down to 17.12 ... EURUSD stable around 1.30-1.32 ... Italian 10-year yield is down to 5-something ... can Greece and Portugal derail this ?

3 Feb, 04:22 PM Reply Like

mark hayek Comments (7)

Woo writes those job reports, oh, the dept of Labor, someone needs a rally. Must be those govt jobs that we need so badly.

3 Feb, 04:42 PM Reply Like

Terry330 Comments (601)

If only the GOP would work with President Obama on continued job growth. They want to see many more American families fall on hard times because they think it will help them.

3 Feb, 05:11 PM Reply Like

zorrba Comments (276)

You are crackers.

3 Feb, 11:05 PM Reply Like

spald_fr Comments (1941)

Terry's TaTa's have achieved sentient status as of 17:11, 3 February 2012.

4 Feb, 01:52 PM Reply Like

Caladesi Kid Comments (186)

It is apparent your education did not include economic history or any exposure to fundamentals of how private business operates. If we are to rely on more and more government interference to 'stimulate' then our economy and our liberties are already destroyed. We are then left with only the debate on how slowly we sink into socialism.

4 Feb, 08:20 AM Reply Like

DAG1996 Comments (1016)

You're exactly right, but sad to say, that's just not going to happen. If anything goes well even to a tiny degree, it reflects positively on the president, which the GOP will prevent at literally any cost. The deadlock over the debt ceiling was only one of very many proofs positive that is the case. They are not concerned since they already have their millions, free healthcare, vacation homes, etc. Sad, but true.

4 Feb, 12:32 PM Reply Like

Mike Down Under Comments (11)

And from there we went to........?
GFC 2 anybody?
But this time it's not Lehmans,it's PIIGS.
Cue The Titanic
And is that an iceberg I see in the rear vision mirror?
Let's party like it's 1929!

3 Feb, 05:36 PM Reply Like

Phill Stone Comments (46)

ahh this news is fantastic... the republicans can suck it. Oh wait.... as long as this continues, they'll be doing more than that. Turn and cough GOP!

3 Feb, 06:38 PM Reply Like

Caladesi Kid Comments (186)

You presume this passes for intellectual discussion?

4 Feb, 08:21 AM Reply Like

spald_fr Comments (1941)

Phill, you really need to hook up with Terry TaTa's upstream.

4 Feb, 01:52 PM Reply Like

marketman54 Comments (703)

I don't believe the numbers and even if they are true the government told us back in 2009 that 500,000 jobs needed to be created a month just to keep up with those entering the work force.

This is the same BS we have been hearing, slightly better than WORSE THAN EXPECTED!!

These numbers do not count those that lost benefits, those that have never had a job and can't find one, those that have only part time work and can't get benefits.......

-low earning goals and expectations that companies easily beat.
-low job numbers that appear to be improving until we get the adjustments three weeks later.

And to Mr. Phil Stone above who believes this propaganda, no matter what your political affiliation may be, you cannot be happy with $20 trillion of short term debt plus additional trillions with FHA, FANNIE, FREDDIE, SALLY, Post Office, Amtrak...........

I think Mr. Stone, as you have so eloquently put it - we will all be sucking it because of this $20 plus trillion of unpayable debt!!

4 Feb, 09:56 AM Reply Like

gatlingg Comments (56)

you don't believe the numbers because it is not the numbers you seem to want to hear. The methodology hasn't changed has it? I bet you can't come up with a reputable source for 500,000 new jobs being needed (although you certainly can for 300,000 or 400,000 although I don't know the veracity of any such claim). Recently the adjustments have revised job growth upward if you are paying attention. I remember 12 years ago when this country was enjoying a large surplus until it was destroyed by huge tax cuts for the very wealthy, 2 unfunded wars, & an unfunded prescription drug benefit. opinions are interesting but facts will dictate what path we take. I wonder what the unemployment rate would be if this country hadn't lost a million or more city, county, state and federal jobs over the past 4 years

4 Feb, 05:44 PM Reply Like

marketman54 Comments (703)

It's not that gatingg, virtually all of my friends are small business owners from construction to blow molding plastics, printing, sausage casing manufacturing...... all businesses from 12 to 175 employees. We all laid off many people and we have yet to hire any back.

So maybe the fortune 100 or 500 are hiring but I guarantee you that us small guys are in the same boat as 2009. If small businesses are not hiring, that only leaves the big boys.

As to your surplus, it was just a bubble! Our wonderful, qualified, elected officials in the assylum in Washington have robbed social security for 40 years as a private piggy bank, fattened the wallets of each state by building roads, airports and bridges to nowhere, lent trillions our of Fannie/Freddie/FHA/Sally and ran huge deficits with anything they can get their hands on like $500 million for solar energy......post office, amtrak...... 9 million homes in foreclosure and 40% of the homes across the country under water - what if they all walk??

You have the Washington crazy people still spending, a middle class that pays NO TAXES, entitlement programs in every local, state and federal level that can't be supported, government pension plans that are out of control, police/fire/teacher pension plans that are out of control, a dozen states that are bankrupt and another dozen teetering on bankruptcy, I could go on forever.

We are broke and so is Europe and Japan. Kick the can is almost over. Does it really matter if I believe the employment numbers or not with all these other atomic bombs waiting to go off??

We think the Greek fiasco is entertaining! We have not done a thing to cut spending. If the U.S. didn't have the Fed to print money to buy our own treasuries we would have been Greece in 2009. We're still gonna be Greece in the next couple of years.

4 Feb, 11:45 PM Reply Like

Geoffrey Harris Comments (539)

So how much higher does the market go. Some folks -- especially though who look at technical indicators that show indices are overbought -- are expecting a correction.

4 Feb, 12:01 PM Reply Like