Jobs Data Prop Up the Action
Despite a very hard reversal to the downside in Europe on the European Central Bank's rate cut news, the U.S. markets are holding up relatively well with small-caps in particular showing good relative strength.
The primarily catalyst seems to be the better-than-expected ADP and weekly unemployment claims reports, which prompted Goldman Sachs to raise its expectations for Friday's jobs report to 125,000 from 75,000. Apparently, the market prefers better jobs data than another QE3 catalyst....163 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
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