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Thursday, April 5, 2012

DOW – 14 = 13,060 SPX – 0.88 = 1398NAS + 12 = 308010 YR YLD – .07 = 2.17%OIL + 1.78 = 103.25GOLD + 10.90 = 1632.30SILV +.38 = 31.84PLAT + 7.00 = 1609.00 The big jobs report is due out tomorrow morning 5:30 AM pacific time. The nonfarm payroll report is typically the biggest economic report of the month. And tomorrow’s report will be unique because the stock market will be closed for Good Friday. Today we saw a report that initial claims for state unemployment benefits fell 6,000 to a seasonally adjusted 357,000, the lowest level since April 2008. New claims have fallen sharply in recent months, boosting expectations the end of a long cycle of heavy layoffs will lead to more hiring. The weekly report does not have a direct relationship with the March employment report due on tomorrow morning. In Europe, Spanish bond yields moved higher, renewing concerns about the euro zone’s financial health. Prices for U.S. government debt rose while the euro weakened against the dollar. The European Central Bank’s emergency lending program launched last December was supposed to give Europe’s troubled banks and sovereigns three years of relief. But just months later, the medicine is already wearing off. That’s the problem with trying to fix a solvency problem with liquidity—it doesn’t last. Spain is the new epicenter. Demand for the nation’s debt slumped this week, forcing the government to pay 4.3 percent on five-year bonds, nearly a percentage point more than in March; …

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