Economic Releases Miss Estimates and Spark Light Profit Taking!
Yesterday, the market traded in a very tight range after a nice rebound on Monday. M&A activity and third-quarter "window dressing" got the week started on a positive note. As I've been saying, traders are searching for any piece of information that might drive the market. Today, there were a number of economic releases that are influencing trading. The ADP employment index showed a larger than expected drop (254,000) in jobs during September. Economists had expected a decline of 210,000. August’s employment number improved by 20,000 and that helped to soften the blow. Traders are seeing improvement and they aren't too …
September 30, 2009
• Posted in: Options
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