By Chris Becker
Stocks reacted positively to Friday nights August jobs number from the US, with the non-farm payrolls disappointing slightly, but not enough to take the foot off the interest rate accelerator for the Fed. A strong European session spilled over into the NY session, where stocks finished up 0.5% or so but still flat for the week. The USD response was mixed on the report, rallying against Yen, but gold staging a comeback, as did Aussie dollar while the Euro slipped. On the commodity front, oil rallied three percent, but only on short covering, while other industrials were flat.
As usual for Monday’s, I’ll take a broader view of the market using daily and weekly charts.