All the sturm und drang of crashing commodities is drowning out an underlying truth: More Americans are getting jobs and prices at the pump are going lower. This is bullish for stocks, according to Jim Paulsen, who joined Breakout from Wells Capital Management in Minneapolis.
While conceding that a 9 percent unemployment rate is hardly cause for celebration, the fact that the economy is adding jobs should be the focus for investors. Paulsen sees activity picking up in corporate America after the residual shock of last decade's meltdown in the financial markets. On the margin, which is where traders obsessively focus, the trend remains better for those watching the numbers from month to month. With April showing an increase of 244k in non-Farm payrolls, and revisions for prior months in the upward direction, the trend is still better, if only tenuously.Read More »from The News Is Bullish for Stocks: Jim Paulsen