Bad News Is Good News-Until It Isn't!
There are days when the stock market appears to have completely lost its mind—and today may be one of them.
This morning, we learned that the United States created only 29,000 jobs during September. Economists were expecting approximately 90,000.
The unemployment rate increased from 4.1% to 4.2%. Average hourly earnings increased by only one-tenth of 1% for the month.
And then we received the revisions.
July’s previously reported gain of 21,000 jobs was revised all the way down to a loss of 10,000 jobs. August was revised from 162,000 jobs to 133,000. Altogether, 60,000 previously reported…
The skinny
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