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Volume way very light in pre-Election day trading yesterday, and I'd expect more of the same today. The Dow turned a mostly negative day into some modest gains as it picked up 19-points on the day.
The October jobs report was released on Friday and the 171,000 jobs added and 7.9% unemployment rate initially sent stock futures and later stock indices higher. By the close it was a different story as most of the indices gave back most, if not all of Thursday's big gains. The Dow ended the day down 139-points.
It seems like it's been forever, but the big moment we've been waiting for the past several months is finally here. That would be the Presidential election, which will occur Tuesday. I think most would probably agree that regardless of who is elected for the next 4 years the market will almost certainly react, and quite possibly in a big way even if it's only for the short term.
So how are we positioned for this event? Perhaps not surprisingly we're not far from evenly split between
After a weather related shortened week, stocks saw some modest gains with TSP fund strength coming from the S and I funds. However, momentum may have turned bearish with Friday seeing 1% losses after Thursday's big gains.
On Friday, the October jobs report came in with a gain of 171,000 jobs, better than the 125,000 that was expected, but the the unemployment rate ticked up to 7.9%. Investors initially bought that news in early Friday trading, but
Employers reported adding 171,000 jobs in October. Expectation were for closer to 125,000. The unemployment rate rose to 7.9 percent, up from 7.8 percent. The government also said 84,000 more jobs were created in August and September than initially reported.