The market was doing so well until the ADP job report came out on Wednesday. Then all of a sudden, a decline of 270 points on the Dow [1]! I know, the report sucked with 673,000 reasons (lost jobs), but hey, we knew the economy would suck anyway right?
The government will release the non-farm payrolls report today, and it will be mighty hard for the data to suggest that its even worst than people think. So as a result, the report can either:
- suck just as much as the ADP report
- surprises people on the upside
Potentially a good thing! Not too bad huh?
Yesterday, the news that lawmakers have reached a deal with Citigroup to let bankruptcy [2] judges alter home loans is certain well received. I can’t see how this is good news for banks [3] though but hey, it’s good for the economy!
Have a great rest of the week and talk to you again next week!
Some Good Investing Articles
- I’ve added a feature on MoneyNing where I highlight certain popular blog posts! Check out the one on Investing 101 [4]!
- Check out my review of the highest yield savings account [5] right now!
- Oblivious Investor has a great illustrative post of a pyramid that explains asset allocation [6]!
- ABC have a follow up on reasons why you want to own different asset classes [7]!