PAYROLLS UP BIG (Bloomberg)
"America’s job-creation machine kicked into higher gear in
April as employers boosted payrolls by the most in two years and the jobless
rate plunged to the lowest since the collapse of Lehman Brothers…The 288,000 gain in employment
marked the biggest upside surprise since February 2012…'The economy is
gathering momentum after the bad winter,' said Michael Gapen, senior U.S.
economist at Barclays Plc…” Story at…
http://www.bloomberg.com/news/2014-05-02/payrolls-in-u-s-rise-by-most-since-2012-unemployment-at-6-3-.html
Finally, we see a number higher than required to keep up
with population growth.
ISM MANUFACTURING INDEX (Briefing.com)
"The ISM Manufacturing Index increased to 54.9 in April
from 53.7 in March… It must be recognized that the index is not hard data of
any kind, but simply a survey that provides broad indications of trends."
http://www.briefing.com/Investor/Calendars/Economic/Releases/napm.htm
WORRISOME STAT
The percentage of NYSE stocks above their 200-day moving average
continues to fall. It’s now at 62.6%.
Historically, a value in the low 60’s (especially values below 61) has been
trouble for the markets.
I’ll post the Market Report, Internals, and our daily
market rating later tonight or tomorrow.
It’s a busy day today.
