All eyes turn to the Non Farm Payrolls number this coming Friday. The market is looking for continued positive readings on job creation. Lately, the market has been perplexed by higher Jobless Claims, last week hitting 426,000. This number is a sharp jump from a month ago when Jobless Claims were in the mid 380,000 range. In addition, the GDP reported last week was nothing to write home about, coming in at 1.8%. For a market that is getting steroids from the Federal Reserve, it seems somewhat on the weak side. As the Federal Reserve continues their quantitative easing policy, and the Dollar dives day by day, is the economy stalling out already?
Today, the markets are hovering slightly negative. The SPDR S&P 500 ETF (NYSE:SPY) is trading at $136.02, -0.20 (-0.15%). This shows overall weakness in the market as their is no catalyst for upside until the Non Farm Payroll number on Friday. The weakness is even more apparent when we look at the Dollar. The Dollar is down again which is no surprise, however, a weaker Dollar usually pushes the markets higher. Today the PowerShares DB US Dollar Index Bullish (NYSE:UUP) is trading at $20.90, -0.07 (-0.33%).
Energy stocks like Chevron Corporation (NYSE:CVX) are leading the markets lower while financial companies like JPMorgan Chase & Co. (NYSE:JPM) are fighting back, trying to keep things neutral.
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.