Wednesday, January 30, 2008

ADP Payroll reports 130,000 new jobs

90,000 more than forecast. S&P 500 futures jumped 0.5% on the news.

Why, we were just talking about this yesterday!

UPDATE: 4th Quarter GDP was reported out at 0.6%. The Intrade recession contract will only expire at 100 with 2 successive negative quarterly GDP numbers, and they are the final numbers (not the first two numbers reported). While there is a chance that 4Q could revised below zero, the buyers of this recession contract must be a little disappointed (unless, like me, they sold higher):


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