Once again in a low volume flat day, market is moving within the channel, neither its breaking up or down. In order for S&P500 to go down, it had to break 1320 level which it wasn't able to it while in Dow it had to break 12694 and stay below it. Today jobless claim number were good and it came better then expected. Its hard to believe this number. I haven't understood one thing while reading http://www.dol.gov/opa/media/press/eta/ui/current.htm
Seasonally adjusted jobless claim was 367000 while unadjusted jobless claim was 415,094. If we subtract this number, its 48094 or 12% down. Will it be ever possible that government add up 12% in their seasonal adjusted data, so that number looks big ? The issue with low number expectation is that Government thinks that the economy is good and so they don't focus on growth or increasing jobs. Anyways I don't have faith in Obama or Ben that they can do anything better for this economy. Unfortunately there is no other alternative as well.
After hours earning APKT, CAVM, CFN, CPT, EW, GILD, GNW, MCHP, NLY, NVLS, PFG, PKI, SFSF, SUN, SXC, TTWO, VRTX, WYNN
Watch out PRSC and MWW
The economic data to focus for tomorrow are
Employment Situation
8:30 AM ET
Released On 2/3/2012 8:30:00 AM For Jan, 2012
| Prior | Consensus | Consensus Range | |
| Nonfarm Payrolls - M/M change | 200,000 | 135,000 | 110,000 to 189,000 |
| Unemployment Rate - Level | 8.5 % | 8.5 % | 8.3 % to 8.7 % |
| Average Hourly Earnings - M/M change | 0.2 % | 0.2 % | 0.0 % to 0.3 % |
| Av Workweek - All Employees | 34.4 hrs | 34.4 hrs | 34.3 hrs to 34.4 hrs |
Factory Orders
10:00 AM ET
Released On 2/3/2012 10:00:00 AM For Dec, 2011
| Prior | Consensus | Consensus Range | |
| Factory Orders - M/M change | 1.8 % | 1.5 % | -1.0 % to 2.3 % |
ISM Non-Mfg Index
10:00 AM ET
Released On 2/3/2012 10:00:00 AM For Jan, 2012
| Prior | Consensus | Consensus Range | |
| Composite Index - Level | 52.6 | 53.3 | 52.0 to 54.0 |
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