The Market’s Response

This is an interesting day as Wall Street digests the impact of today’s strong jobs reports.

The overall market is down a little bit, but there’s a lot going on under the covers. For example, bank stocks are doing very well today. On our Buy List, Signature Bank (SBNY) and Wells Fargo (WFC) are having very good days.

Utility stocks and some defensive areas like Staples and Healthcare aren’t doing so well. Qualcomm (QCOM) is recovering a bit after yesterday’s debacle.

The bond market is moving lower. The 10-year Treasury is up to 2.32%. On October 14, it had closed at 1.98%. Gold is down for the eighth day in a row. Dan Rosenblum informs me that gold is down 15 times in the last 17 sessions.

Check out the reaction in the six-month Treasury.

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Posted by on November 6th, 2015 at 9:56 am


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