Daily Game Plan: Good Data, Ugly Action
MARKET CHECK At 8:30 this morning the November nonfarm payrolls report was released and the data was very good. Analysts were calling for the addition of 90 000 jobs for the month but the actual number showed an increase of 146 000 jobs. Additionally the headline unemployment number came in at 7.7% versus expectations of an 8.0% reading. As you could probably expect markets spiked sharply on this data with S&P 500 (INDEXSP:.INX) futures moving about 13 points in only a few minutes. However the euphoria quickly waned and that dramatic move higher has faded all day. As of ...
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