For Dow Clues, Monitor U.S. Job Growth

The manufacturing report really was not THAT good. Not good enough to send the DOW up 250 points on the day. We have returned to wow the news wasn't as bad as we thought it was going to be so we'll stage a rally.

Manufacturing is such a small component of the US economy that it almost doesn't matter anymore. There are a lot of manufacturers hiring but nobody wants to take the jobs unless they are absolutely desperate because they pay less than most people are getting through unemployment benefits.

WOW I'M GOING TO WORK IN A DIRTY FACTORY DOING HARD LABOR 40 HOURS A WEEK AND YOU'LL PAY ME $8.65 AN HOUR!!!! WHERE DO I SIGN UP!!!!

If you take away the federal stimulus dollars that are propping up the manufacturing industry there really hasn't been any expansion at all. Also if you compare overall manufacturing output to ten years ago it is a piece of a far smaller pie today.

So the Streeters cheer manufacturing even though it barely budges the real economy and they overlook what does move the economy, an ever shrinking labor pool.

We have once again less people making money so you have to chalk today up as another suckers rally. The problem is that it really isn't a suckers rally because a few people made a killing with their rapid trading programs and insider information. I wonder which stocks went up by 100% today because of e-trading BS? How about that $4trillion a day currency trade!!! Wonder which multibillionare made some serious cash manipulating that market???

No one can predict the Dow, but the market does predict what things will look like in the very near future. The upsurge in stocks are a clear indication, that we are headed for some form of recovery. A free market has a mind of it's own, just like a wise man.

Wisdom is in the blog heading.

Economies will not sustain themselves without growth.

Economies that are primarily consumer driven - need jobs to sustain this growth.

Joe:

This is one time that I absolutely agree. IF the JOBS numbers are not going up, and up continually, what the street is reading as positive is in reality, fairyland.

I remain negative, not because I want to be, but because I simply do not see anything to cheer.

Statistics are merely a means to determine guidance and usually, they can have different interpretations, frequently diametrically opposed.

There is no doubt in my mind that there will be upbeat and outright great reports coming out of the media that "everything is wonderful" just prior to the election...

As an unemployed "deadbeat" displaced from the housing, construction and custom wood products world approaching 3 years now... NOTHING has improved... more places that were holding on are closing, large ICONS are closing, they continue to spend our money overseas, they do nothing for jobs, they are even dragging the U.N. in to grant amnesty to the illegals so that they keep our jobs and cost us more... Yet... you will continue to read.... it is getting better, and more so as the elections draw near... and when the republicans take over.... you will start reading how we are NOW in a depression.

Not only do the socialist need out, so do this malicious lying sorry excuse for reporting that we have in this country...

Crack smokers.... Economist Irving Fisher famously proclaimed, "Stock prices have reached what looks like a permanently high plateau. However, the optimism and financial gains of the great bull market were shattered on "Black Tuesday", October 29, 1929, when share prices on the New York Stock Exchange (NYSE) collapsed.

I guess there was a ray of hope than too... I don't recall seeing such an unstable market as the one we have today... one day it is sliding, the next day it is soaring... And... Lazarro is at it yet again... give it up dude... your played out!

Business will not hire or invest in new equipment with the looming fear of the healthcare bill and crushing taxation.
If Obama wanted the US to recover he could eliminate the Capital Gains Tax and leave the Bush Tax Cuts in place. This would bring business to our shores from all over the world because we'd have a competitive tax environment, trained (and somewhat less spoiled now) work force ready and waiting. Oh, and then he could eliminate benefits for illegal's and seal the border to help the blue collar workers of America.
All of the imaginary "stimulus" that has been spent so far is just money that has been borrowed or printed from thin air. I hope everyone realizes that your taxes are paying it back and all that fake money floating around will make everything more expensive (and your savings and salaries lower) when it hits the street. For those that believe in the "Multiplier Effect", please realize that the private sector could have used their own money much more effectively than government cronies.

All facts poin to nothing but trouble in the U.S., especially the 15 Million jobs needed, the housing & mortgage problems, & so on & so forth - I think Wall Street & investors have their heads in the sand - We will be in trouble for a long time - Look at what those needless wars have cost us, Iraq alone over $700 Billion & counting - WE ARE IN TROUBLE FOLKS! Rename Wall Street & the Stock Market to "YoYo Land"!
Claude DeMoss
San Jose, CA