Strong employment numbers today. The U.S. added 287,000 new jobs. Economists expected about 100,000 fewer jobs. Economists were also able to predict 12 of the last five recessions.
Many people believe that the numbers on the first Friday of each month are the most important statistic for stockmarkets.
Strong numbers means markets will rise. That’s what’s happening today.
Every broker and his uncle is pounding the table for PayPal, guessing its numbers will be great, when it reports later in the month.
Weekend reading, handpicked by yours truly:
+ From the Wall Street Journal:
THE GREAT UNRAVELING
Election 2016 Is Propelled by the American Economy’s Failed Promises
Click here:
+ Seven days into July, and police in America have already shot 561 people. Sick of Police Shootings? America Asked for Them.
Click here.
+ Scott Adams Blog. The Crook versus The Racist. Adams is the creator of Gilbert and the man who forecast over a year ago that Donald Trump would secure the Republican nomination.
Click here.
+ LONDON, July 5 Three British commercial property funds worth about 10 billion pounds suspended trading within 24 hours, in the first sign of markets seizing up since Britain’s vote to exit the European Union sent asset prices into a tailspin.
Click here.
+ Growing Unease as British Mutual Funds Block the Exit Doors. (Another story on the same subject)
Click here.
+ Michael Moore believes Donald Trump has a serious shot at the presidency. Here’s why and how to defeat it. A very short video.
Click here.
+ Facebook Could Make eBay Obsolete. Personally I hope it gives eBay a run. I use eBay, but it’s horribly cumbersome.
Click here.
+ JetBlue Wants to Pay for Your TSA PreCheck. That an $85 value and a huge speed-up in getting through airport security. Everyone should have TSA PreCheck. It saves so much time.
Click here.
+ Can New York City Be Saved in the Era of Global Warming? The future of America’s greatest city is at risk.
Click here.
+ Supplements and Safety. FRONTLINE, The New York Times and the Canadian Broadcasting Corporation examine the hidden dangers of vitamins and supplements, a multibillion-dollar industry with limited FDA oversight. My personal conclusion: Most of us don’t need this stuff.
Click here.
Favorite New Yorker cartoons:
Harry Newton who’s watching Raonic (from Canada) versus Federer. It’s engrossing. 6-5 in the fourth. The second men’s semi-finals will be on next. The women’s final is tomorrow. And the men’s is on Sunday. On ESPN. Please Federer win. Meantime, indulge me. Here’s the littlest grandchild, Peter. Cute? He looks like Winston Churchill. But then they all do at this age?
Absolutely picture perfect…what a beautiful baby.
Who is paying for these demonstrations that push violence? Someone wants us to be a Police state and I’m betting that is part of the Administrations objective.