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Markets Consolidate Ahead Of Jobs Number

The SPDR S&P 500 ETF (NYSE:SPY) is trading slightly lower today at $132.67, -0.10 (-0.08%).  After two consecutive days of higher markets, it appears all eyes are now turned to the Non Farm Payrolls Number and Unemployment Report. Expectations are extremely high, with the market pricing in a gain in jobs in the range of 250,000. While the markets need a number of 250,000 to move higher tomorrow, it is unlikely a number lower would cause significant selling. If gains in jobs were significantly limited, talk of QE-3 would be possible. Quantitative easing is a drug into the vein of the markets. Any chance of further printing of money by the Federal Reserve would help stem any major losses in the markets.

Silver, gold and oil are all higher today. A run for commodities continues as they all move higher. The iShares Silver Trust (NYSE:SLV) is trading at $36.72, +0.19 (+0.53%), the SPDR Gold Trust (NYSE:GLD) is at $140.08, +1.41 (+1.02%) and the United States Oil Fund LP (NYSE:USO)  is trading at $42.33, +0.67 (+1.61%).

Gareth Soloway
InTheMoneyStocks.com

 

 

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