The Market On Friday

Early morning appointments prevented me from posting earlier. I have a keen interest in market futures, world stocks which anticipate Wall Street, and commodities markets which seem to set the tone for different sectors of the economy.

Regardless, today should be a huge wake up call. The message is simple, the recession is still here. Economists got blasted when they underestimated job layoffs in August by nearly 100,000. This is huge. The country is hurting, man.

Wall Street markets are puttering around at opening levels. One would suspect that the jobless data would cause the sinking of the Titanic, and that could still happen, as we know.

We are not out of the woods.

Reuters: Wall Street opens lower after jobs data

...government data showed many more jobs were lost in September than economists anticipated...

CNN: Bad news: Jobs market getting worse

The Labor Department said there was a net loss of 263,000 jobs in the month, up from a revised loss of 201,000 jobs in August. Economists surveyed by Briefing.com had forecast losses would fall to 175,000 jobs.