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Estimates: +210,000 with unemployment rate of 6.6%

Actual: +288,000 with unemployment rate of 6.3%


It's a little misleading and the market isn't soaring on the data. The +288,000 is impressive plus there were solid upward revisions in Feb. and March, but 806,000 people left the work force (no longer part of the unemployment # equation) - the most ever since they started keeping track of that, and that accounts for the 6.3% unemployment rate. And when 800K ...

Stocks were mixed on Thursday and we finally saw the small caps and Nasdaq outperform the Dow and S&P 500. The Dow lost 22-points so perhaps investors were doing some bargain hunting, buying up the stocks that have been beat up.
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Stocks remained tentatively higher before yesterday's FOMC meeting, and after the policy statement was announced, we saw a modestly positive reaction into the close. The Dow ended the day up 45-points, which is actually put it at a new all-time closing high, while small caps finally outperformed.

All of that despite a disappointing GDP report which came in at 0.1% ...

Stocks rallied yesterday, and why not? It was Tuesday and we've now had 7 consecutive positive Tuesdays. Monday's positive reversal day followed through as we suspected, but today we get the FOMC policy statement and the market will brace for any surprises. The Dow gained 87-points and most major indices gained about a half of one percent.

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Stocks went on a rollercoaster ride on Monday, in front of a 2-day FOMC meeting. The Dow was up 120-points during early trading before completely falling apart by early afternoon, with some indices racking up losses near 2% before an afternoon rally saw stocks roar back. The Dow closed up 87-points, while the broader indices were mixed.
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