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Investors Await Government Job Report

 Today, the major stock indexes sold off during the first 30 minutes of the trading session. This type of action has been common since Ben Bernanke announced his QE-2(quantitative easing) program in late August 2010. Since the early morning decline the stock market has rallied higher throughout the afternoon. Most investors are now waiting for the government job report tomorrow morning, therefore, the action into the close is likely to remain somewhat range bound.

Economists expect an increase in private non-farm payrolls of 162,000 jobs. Last month the government reported a disappointing 113,000 private non-farm payroll jobs, however, the market did not react negatively. Many traders are expecting a stronger than expected job report tomorrow.

Monster Worldwide Inc.(NYSE;MWW) is a leading provider of online employment solutions in North America, Europe, and Asia. This stock is trading at a fresh three month low. MWW stock will have daily chart support around the $14.00 level.

Nicholas Santiago