9:10am (EST)
There has been a number of interesting developments this morning but the biggest news is that the unemployment rate dropped to 9.7% as employers unexpectedly cut 20,000 jobs in January. The unemployment rate surprisingly fell to a five-month low of 9.7% and the futures have rebounded strongly.
The Labor Department said the economy shed 150,000 jobs in December, compared to 85,000 previously reported, but November was revised to a gain of 64,000, up from 4,000.
Toyota Motors (TM, $73.38, up $1.50) is getting a pop after its CEO addressed his company’s recent snafus and admitted they dropped the ball.
Amazon.com (AMZN, $116.11, up $0.17) looks like it will open higher and could continue to be volatile.
Shares of Apple (AAPL, $194.46, up $1.41) are on the rebound following yesterday’s $7 point drubbing.
As we head to press, Dow futures are down 25 after being up 16, right before 9am. S&P and Nasdaq futures are off by 3.
Now you see why we are going we are going 6 months out on our trades and why we are being selective about our picks. Volatility will likely be heavy today.
Tags: option picks, option signals, options alerts, stock options trading, unemployment rate drop to 9.7%
This entry was posted
on Friday, February 5th, 2010 at 9:20 AM and is filed under Economic News, Market Analysis, Market Commentary, Trading Psychology.
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Unemployment Dips To 9.7%
9:10am (EST)
There has been a number of interesting developments this morning but the biggest news is that the unemployment rate dropped to 9.7% as employers unexpectedly cut 20,000 jobs in January. The unemployment rate surprisingly fell to a five-month low of 9.7% and the futures have rebounded strongly.
The Labor Department said the economy shed 150,000 jobs in December, compared to 85,000 previously reported, but November was revised to a gain of 64,000, up from 4,000.
Toyota Motors (TM, $73.38, up $1.50) is getting a pop after its CEO addressed his company’s recent snafus and admitted they dropped the ball.
Amazon.com (AMZN, $116.11, up $0.17) looks like it will open higher and could continue to be volatile.
Shares of Apple (AAPL, $194.46, up $1.41) are on the rebound following yesterday’s $7 point drubbing.
As we head to press, Dow futures are down 25 after being up 16, right before 9am. S&P and Nasdaq futures are off by 3.
Now you see why we are going we are going 6 months out on our trades and why we are being selective about our picks. Volatility will likely be heavy today.
Tags: option picks, option signals, options alerts, stock options trading, unemployment rate drop to 9.7%
This entry was posted on Friday, February 5th, 2010 at 9:20 AM and is filed under Economic News, Market Analysis, Market Commentary, Trading Psychology. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.