Markets January 4

ron · #1 (**permalink**) 01-04-2008, 10:26 AM

Nonfarm Payrolls for Dec came in at a much lower than expected 18K - consensus 70K, the lowest level since Aug '03, with manufacturing payrolls falling a larger than expected 31K - consensus -15K. What's more, the Unemployment Rate climbed to 5.0%, well above the 4.8% consensus and last month's reading of 4.7%.

ron · #2 (**permalink**) 01-04-2008, 10:30 AM

it's important to note that President Bush is scheduled to meet with his economic advisors today, and some comments may come out of it that the mkt may closely monitor. In addition, Fed Vice Chairman Kohn will speak about macroeconomic policy this morning at 11:15ET.

ron · #3 (**permalink**) 01-04-2008, 10:36 AM

It is still shaping up to be a sharply lower open as the jobs data weigh on sentiment...Dow -119 points, Naz -41.90, S&P -15.66, NDX -35.76 rtq. (real time quotes)

ron · #4 (**permalink**) 01-04-2008, 10:39 AM

Dow pushes back below 13K psych-level on opening weakness... Currently -136 pts at 12,915.

ron · #5 (**permalink**) 01-04-2008, 11:13 AM

Just hitting the wires, December ISM Services, a national non-manufacturing survey, came in at 53.9 consensus 53.5.