Is there any job number, ggod or bad, that can cause market to pullback..? (No)
I think this is a freebie for WS. We just posted a -0.1 Gdp number, everyone knows the Fed isn't going anywhere in the near future with a number like that, EVEN if thew job number is going to be good..
There was alot for the markets to get thru this week with a large amount of economic data and thge jobs number, yet it the S&P only lost 4 points off Mondays open..
After tomorrows report, it'll be a much easier road to climb, next week will tell us how much strength this rally has, imo...
The only thing that makes sense is that their arew no real sellers, because the FED is the only real buyer...if everyone was long this market , SOME ONE would have panicked by now at this rotten eco data
If job numbers are low/bad, market will rally saying "More QE and continued QE form Government".
If job numbers are good/high, market will rally saying "Wow the economy is great and resurgent and we don't need QE".
Either way, the market goes up to DA MOOOOOOOOOOOOOON!!!
If the economy was so "great", then there should be no problem to begin the process of normalizing the discount and federal funds rates. One should ask themselves why perceived improving data would not coincide with normalized interest rates.