Markets Optimistic Ahead of Employment Numbers

by devteam December 4th, 2009 | Share

Equity futures are often flat or in decline before the monthly of release of the unemployment rate and the pace of job losses, but ahead of the November results equities are pointing modestly higher. 

The reason is simple: expectations are that 100k or fewer people lost their job in the month, compared with 190k in October and as many as 741k at the start of the year.

Less than an hour before the data, the Dow looks to open 12 points higher at 10,364 while futures on the S&P 500 are up 1.50 points to 1,100.

In contrast to equities, WTI Crude oil is down 69 cents to $75.77 per barrel and Spot Gold is trading $1.53 lower at $1,206.07.

Meanwhile, the US dollar is weaker against an array of currencies. In recent commentary, Bank of Israel Governor Stanley Fisher â€

About the Author


Steven A Feinberg (@CPAsteve) of Appletree Business Services LLC, is a PASBA member accountant located in Londonderry, New Hampshire.

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