The government reported that the economy lost 263,000 jobs last month which was more than expected. The unemployment rate rose from 9.7% to 9.8%. The average workweek fell to 33 hours, which is an all-time low!
The last hour today and Monday will be important to see if any of the money on the sidelines is trying to buy on dips. We’ll be fine during earnings season, but it is about to get bumpy.