Most traders will really be positioning for the October employment report. Economists are expecting that non-farm payrolls rose by approximately 50,000 during the month, providing evidence that with two straight months of employment growth, the jobs picture is finally turning around.
More Quotes from Paul Mendelsohn:
However, the market has already discounted first-quarter earnings, and maybe even second, ... The greater concern is about the economy going forward.Paul Mendelsohn
It's clear that employment growth this time around has been sub-par compared to previous economic recoveries. You need about the number of jobs that we're adding now just to stay even with the number of people entering the economy. It's very possible that we're going to continue to see sub-par growth.
Paul Mendelsohn
Intel is going to have to have a very, very good report, or we could see more selling in that sector.
Paul Mendelsohn
We're at pretty high levels on the indexes, there's a lot of economic news coming out over the next few days, and Friday is a quadruple witching day, all of which is adding to the volatility and the pullback.
Paul Mendelsohn
It's a heavy earnings day, so we're going to get a good feel for earnings from a number of different sectors. So far earnings have been good, with 70 percent of companies beating expectations.
Paul Mendelsohn
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