The January U.S. Employment Report indicated 598,000 jobs were lost in January, with the unemployment rate rising to 7.6%. This was slightly weaker than expected. The December revisisions also came in weaker. Stock index futures are actually bumping up on the news, as there will be more pressure on the government to have a stimulus package ready by early next week.
As I right this, I am noticing that Silver has popped above $13, and Gold is up a little as well. The Dollar is holding steady, and energy prices are weaker. Things can obviously change throughout the day, but all eyes will turn to Washington as Congress continues to debate and craft a stimulus package.
Stay Tuned!
Scott Cole
www.bestdaytradingstocks.com
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