Entering text into the input field will update the search result below

The Markets Await Jobs Data, Hover Flat To Lower

Jan. 06, 2011 1:10 PM ETSPY
Please Note: Blog posts are not selected, edited or screened by Seeking Alpha editors.

 The markets are continuing to hover slightly lower today. The SPDR S&P 500 ETF (NYSE:SPY) is trading at $127.34. -0.30. The reason for the weakness today can be blamed on the U.S. Dollar. The PowerShares DB US Dollar Index Bullish (NYSE:UUP) is trading higher at $23.26, +0.15 (+0.65%). A stronger Dollar only puts a little pressure on the market these days as the Federal Reserve continues to have full control. Between light volume and POMO (permanent open market operations), a novice with the Federal Reserve's money backing, could prop this market up. In addition, Wall Street is waiting for the Unemployment Report and Non Farm Payroll Report tomorrow morning. It is unlikely the markets will move lower the rest of the day and a float slightly higher is very possible.

Gareth Soloway

Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

Recommended For You

To ensure this doesn’t happen in the future, please enable Javascript and cookies in your browser.
Is this happening to you frequently? Please report it on our feedback forum.
If you have an ad-blocker enabled you may be blocked from proceeding. Please disable your ad-blocker and refresh.