Financial Review

Waiting for the Storm


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…..Unemployment benefits drop – why? Layoffs up. Freelance nation. Hurricane Matthew heads for Florida. Will anyone buy Twitter. Wal-Mart invests in e-commerce. Mylan overcharged. Theranos can’t pass the test. Deutsche Bank – still no deal. Samsung replacement phone catches fire. Airplane emissions. Uber offers free rides to the train.   Financial Review by Sinclair Noe for 10-06-2016 DOW – 12 = 18,268 SPX + 1 = 2160 NAS – 9 = 5306 10 Y  + .03 = 1.74% OIL + .73 = 50.56 GOLD – 11.30 = 1256.20     The number of people who applied for unemployment benefits fell by 5,000 to 249,000 at the end of September. This marks 83 consecutive weeks of initial claims below 300,000, the longest streak since 1970. Tomorrow the Labor Department reports on how many people found jobs in September; the consensus estimate is calling for about 170,000 new jobs in the last month.   With unemployment near the lowest level since before the last recession, employers are having to offer more incentives to attract skilled workers to blue-collar truck driving and construction jobs. Tomorrow’s jobs report could provide clues to the timing of the Fed’s next interest rate rise. If the tight jobs market means average hourly earnings rose more than the projected 0.3 percent, the chances of a hike this year could easily increase beyond the current market-implied 61 percent. Traders are taking the Fed’s November meeting off the table for two reasons: its closeness to the elections could have aggravated political and market consequences, ...
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Financial ReviewBy Sinclair Noe