Friday, February 6, 2009

Unemployment Rate at 7.6%

The unemployment rate edged up to 7.6% topping December's 7.2%.  Payrolls slashed by 598,000 in January the largest decline since 1974.  The street was forecasting -525,000.

This will most certainly fuel a Obama led tirade, ala Christian Bale, onto the GOP encouraging the passing of the "stimulus" package.

DOW 8063
S&P 846
NAZTY 1546

Obviously, it's hard to read the market's reaction to this news and the possible stimuli.  Just get out of the way.

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