Unemployment Falls to 8.9%, Futures Mixed

9:00am (EST)

Yesterday’s numbers real quick.

The Dow was up 191 points and finished at 12,258. The S&P finished at 1,331, up over 22 points while the Nasdaq closed higher by 50 points to 2,798 and broke thru the 2,800 level intra-day. Economic news was incredible as the bulls went 3-for-3 on the economic front but it all came down to the job numbers.

Exactly 30 minutes ago this morning the bulls got what they wanted. Nonfarm payrolls came in at 192,000 while the unemployment rate came in at 8.9%.

We have been planning for a fantastic jobs report which is why we kept our cool this week and futures got a pop after the report. The Dow futures doubled when the news was released going from 20+ to over 40+ but are currently up 10 points to 12,249. The S&P and Nasdaq 100 futures are down a point.

We were guessing the unemployment rate would come in at 9% and though some may question 8.9%, the bulls will take it. The 192,000 number was a little short of the 196,000 that had been expected but private payrolls increased by 222,000 versus expectations for 200,000.

We spent much of last night adding trades to our Watch List and we might make one (or two) official this morning if we can get good entry prices. If we do, we will send out a Trade Alert.

Subscribers, check the Members Area for the current updates and possible new trades.

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Unemployment Falls to 8.9%, Futures Mixed

CFTC Disclosure: