Employment Situation Good: Market’s Higher – Fiscal Measures

by Tom Nunamaker on September 3, 2010

E-mini S&P 500 1100.25 +10.75
EUR/USD 1.2856 +0.0044
30-Day Fed Funds 99.815 0.000
Gold 1243.6 -9.8

The Employment Situation was better than expected.  We’re seeing a pop in Equities and Currencies at the moment.  Nonfarm payroll employment was down 54,000 vs the concensus of 80,000.  Unemployment edged up to 9.6%   This strong Employment Situation was a bit of a surprise.  I’ll be curious what Jon William’s read is of the numbers.  The USD is losing ground in the currencies a little.  Bonds are selling off a bit as expected.   As Mark said this week,  add insurance as September can be a volatile month.

U.S. Markets are closed on Monday for Labor Day.

Interesting Article about Fiscal Measures

I found an article titled “So with QE2 Now Dead Until 2011, What Fiscal Stimulus Measures Lie In Store?” at zerohedge.com The Administration and Congress must decide whether to propose additional cuts or focus on tax incentives.  Some of the options on the table likely are:

  • A hiring credit
  • Payroll tax cut
  • Small business tax cut
  • Bonus depreciation
  • Infrastructure

Read the full article for details.  It’s interesting!

Picture of the Day

I went to USAF Undergraduate Pilot Traing (UPT) at Vance Air Force Base, Oklahoma in 1987/88.  The T-37’s we flew were all white at the time but here’s a picture of two jets I probably flew in as a student years ago.  I believe the T-37’s are now phased out of the USAF inventory being replaced by the T-6.  The “tweet” was a fuel to noise converter with a very distinct high pitched whine around 5000 hertz.  If you ever heard a T-37, you wouldn’t forget the sound!  Enjoy the picture.

T-37B Vance AFB, Oklahoma

T-37B Vance AFB, Oklahoma

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