Investors Eyeing Greece, Jobs Data

November 4, 2011 01:06 AM

What Traders are Talking About:

* Greece watch continues. The saga in Greece is like a nervous cough -- it won't go away and the more you think about it the worse it gets. But there is seemingly some calming news today as a referendum on the bailout package appears to be off the table. Prime Minister George Papandreou has reportedly agreed to resign if the opposition party endorses the EU/IMF bailout package agreed to last week. So... now we wait to see what the next twist will be.

The long and short of it: Risk appetite is on the upswing, but there are likely to be more twists and loops as the 'eurocoaster' ride is seemingly never ending.

* Attention also on jobs data. Economists expect the Labor Department to show the U.S. economy added jobs in October. But the unemployment rate will show the labor market is basically treading water. To greatly boost investor confidence, a strong jobs report is needed, although investors will also continue to closely monitor the situation in Europe.

The long and short of it: After this report, jobs growth should appear to be stronger the next two months, as seasonal workers will be added for the holidays.


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