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Jeremy Frommer, CEO of Hedge Fund LIVE Jeremy Frommer has 20 years of industry experience and is currently responsible for general management and leadership of the General Partner. Previously, Mr. Frommer was a Managing Director and Head of the Global Prime Services Group (“GPS”) at RBC Capital... More
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  • Payrolls Numbers Better Than Expected, Will Watch Financials Today 0 comments
    Nov 5, 2010 3:29 PM | about stocks: XLF, JPM, BAC, MS, WFC, SPY, IWM, DIA, QQQ

    Morning Notes

    -       European markets are flat to down small

    -       Asian markets are up over a percent

    -       BOJ announced it will leave rates unch’d and that it would commence JGB purchases to help stimulate its economy, rallying the Nikkei over 2.50%

    -       Ahead of BLS data release at 8:30a, futures are down a bit

    -       Financials are in play names today as the Fed disclosed yday that it will allow banks to raise dividends

    -       October Nonfarm Payrolls: 151K vs. 60K; prior revised up to -41K from -95K

    -       October Nonfarm Private Payrolls: 159K vs. 80K; prior revised up to 107K from 64K

    -       October Unemployment Rate:  9.6% vs. 9.6%

    -       Futures get a modest pop following BLS release as the numbers are much better than expected; S&P futs are now up about 1.25 handle from FV

    Disclosure: None
    Stocks: XLF, JPM, BAC, MS, WFC, SPY, IWM, DIA, QQQ
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