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March 4, 2005
Gap Open Up Alert
The U.S. Jobs Report has significantly beat expectations, so the equity market will open significantly higher, taking out my forecasted top cycle high.
8:30am 03/04/05: U.S. Feb nonfarm payrolls up 262,000, above expectation By Greg Robb WASHINGTON (MarketWatch) -
The U.S. economy added 262,000 jobs in February, the Labor Department estimated Friday. This is the largest monthly increase in payrolls since October. In the separate household survey, the unemployment rate rose to 5.4 percent in February from 5.2 percent in January. Economists were expecting payrolls to grow by about 221,000 in February and for the unemployment rate to remain at 5.2 percent. Gains in nonfarm payrolls in January and December were revised up by a total of 6,000. Average hourly earnings were unchanged at $15.90. The average workweek was steady at 33.7 hours.
It's a new ball game, and boy will the CNBC personalities be gloating. Kudlow will probably be insufferable.
I may even have to turn on ROBTV.
Gold is up to $433.
Posted by Posted by Bill Cara on March 4, 2005 06:53:29 AM | Category: Cara Today in the Market