Enter multiple symbols separated by commas

Stocks Numb to Jobs Report

Stocks Numb to Jobs Report
Getty Images

Why no energy Friday? The Dow was up 53 points at the open on the better than expected jobs report, but that was it: we moved down immediately into negative territory by 10am ET.

(Read more: Stocks Near Lows, Dow Falls 100; Energy Lags)

A few thoughts from the trading desks:

1) dollar rally: commodity stocks, oil and gold all down (gold below $1700 to a two month low), because a better jobs report makes more quantitative easing less likely, which is dollar-positive.

(Read more: Gold Settles Below $1,680, US Jobs Data Short Circuit Rally)

(Read more: Oil, Gasoline Prices Fall on East Coast Recovery)

2) Some disappointment with payrolls: weak hourly earnings and average hours.

3) Sell winners! The political spin is that the jobs report is a marginal positive for President Obama. If he wins, capital gain taxes will likely go up.

4) aftermath of Sandy more serious than thought. "We are likely to have 25 million people in a bad mood for months," one trader said.

Gasoline outages, power outages, two to three hour commutes into New York, and a shockingly high death rate (40 in New York City) now has tempers flaring.

—By CNBC's Bob Pisani

Bookmark CNBC Data Pages:


Want updates whenever a Trader Talk blog is filed? Follow me on Twitter: twitter.com/BobPisani.

Questions? Comments? tradertalk@cnbc.com

  • Bob Pisani

    A CNBC reporter since 1990, Bob Pisani covers Wall Street from the floor of the New York Stock Exchange.

Wall Street

  • Robert Shiller

    Nobel Prize-winning economist Robert Shiller says that his key valuation indicator is flashing warning signs.

  • Lael Brainard

    The Fed is in the early stages of an analysis on changes in bond market liquidity, amid signs that liquidity may be less resilient than in past.

  • Bill Gross

    Janus Capital acquired a majority interest in Kapstream Capital and said Kapstream's Palghat will support Bill Gross as co-portfolio manager of the Janus Global Unconstrained Bond strategy.