Stock Market Blog -Jan 9th

We started off the new year with a nice rally on Monday. The much anticipated jobs report on Friday was somewhat disappointing, but the market didn't show much reaction. The unemployment rate also fell to 9.4%, which is encouraging.

New unemployment claims were back over the 400,000 level at 409,000! (chart).
This week, two banks were shut down by the FDIC! (list).

Next week: (Economic reports link). Next week kicks off earnings season, with AA reporting on Monday, INTC on Thursday, and JPM on Friday.

Market commentary: Most likely we'll see the market begin to react to earnings reports next week. I still maintain that there is more risk in being 'long' at this level. The market has rallied almost non-stop since September. Bond prices may be seeing a bottom in this area too, while the US Dollar might be seeing a short term triple top.

Commodities (charts):
Oil prices were slightly lower, closing around $88 per barrel.
Natural Gas was up then down, closing unchanged near $4.40.
Gold dropped, closing around $1370.
The 30 year Bond dropped, closing near $121.
The US Dollar index rallied, closing around 81.40.

News:
The job market: a lost decade
3 Trades for Solar Rebound