Jobs & Hiring Update 2014: Job Report Improves But Investors Remain Wary
The October jobs report was moderately better than expected and the unemployment rate fell, but that still didn't please all investors Friday.
"It's reinforcing the story that we have a moderate, improving economy here but not a runaway economy," Jim Swanson, chief investment strategist and portfolio manager at MFS Investment Management told the Wall Street Journal. "It's better for the stock market, but not a shocker in any direction."
And stocks might tumble even further Monday after President Obama authorized more troops in Iraq.
With the unstable geopolitical world and the recent midterm elections, Washington could become a political gridlock where nothing gets done in Obama's final two years.
The Republicans sweeped the mid-term elections after Obama's first two year's of his second term were deemed very unsuccessful by most Americans. Americans were fed up with Democrats and they showed that at the Polls on Election Day Tuesday.
The best thing for stocks is the fact that the U.S. economy is still creating jobs and more employees are going back to work. The unemployment rate now stands at 5.8%. The Wall Street Journal had predicted 5.9%
The Wall Street Journal also predicted that 233,000 payrolls would be added. Instead only 214,000 jobs were added.
Still, stocks ended at record numbers on the good news of jobs being added. Monday could change though.
It's good news [the jobs report], it's not great news," Art Hogan, chief market strategist at Wunderlich Securities told CNBC.
What do you think of today's job numbers report? Leave us a comment below and let us know.
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