On Aug 8, 2009, at 6:23 PM, Bill O'Connor wrote:
> Small wonder the stock market goes up when unemployment is high.
Not right now. The stock market rises when employment news comes in better than expected, as it did yesterday. The consensus was that payrolls would decline by 325,000-350,000; instead, they were down 250,000, and the market rallied.
Ditto the weekly unemployment claims numbers. Laura Flanders got this way wrong the other day.
Doug