It’s Bad When More People Are Working.

The market is in "good news is bad news" mode this morning.

PRE-OPEN MARKET COMMENTS FRIDAY - This morning the jobs report was posted and it was much better than expected. In August 162K new jobs were added and July's number was revised to +21K vs -23K initially reported. The BLS is filled with seasonal adjustments and I did not trust last month's number. Initial jobless claims have been averaging 200K and ADP has shown job growth in the private sector all year. Regardless of the good job growth, the market is down on the news.

Daily Bulletin Continues...