The market got its first chance to react to the jobs report today. To put it mildly it was a negative reaction. Out of the gate the major indices hit session lows and stayed there the whole day. One silver lining was that volume was light so it was not as if everyone hit the panic button and ejected out of the market.
Earnings season gets started tomorrow so that should give guidance to investors on the trajectory of the recovery. All eyes will be on Alcoa when they report tomorrow.
One news piece to watch tonight is the scheduled speech by Ben Bernanke in Georgia. Investors should watch for any hints on further easing.
The Dow finished the day down 131, the Nasdaq was off 33 and the S&P gave up 16 points. [Read more...]