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Friday It's All About Jobs, Jobs, Jobs
Published:
Thursday, 5 Nov 2009 | 4:04 PM ET
Text Size 
By: Bob Pisani
CNBC Reporter
CNBC Reporter
Friday: all about the unemployment rate. That's a bit different than usual, since traders typically focus more on job creation and destruction—the nonfarm payroll report—rather than the unemployment rate.
But this time, unemployment is the attention-grabber, because consensus calls for it to go to 9.9 percent for October, up from 9.8 percent in September.
The problem: any figure of 10.0 or higher is a Bad Headline—a sure-fire attention grabber in the next day's papers.
There's unanimous agreement this will eventually happen, but with the Dems losing two gubernatorial races this week, expect political elbows to be flying if that number hits 10.0 or higher.
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POPULAR TRADER TALK POSTS
- Stocks Lurking Near New Highs Again
- Risk Trade Is Back On
- This Week's Biggest Story: The Dollar
- Corporate Issuance Continues at Torrid Pace
- The Bernanke Dollar Bounce & Gross Says Forget About Rate Hike
- Colgate Really Sparkles After Hours
- Light Volume Has Traders Complaining
- Gold Shatters Another Record
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