Yesterday, Payroll data rolled in before the market opened, reflecting a better-than-expected jump as the economy added 94,000 jobs in November. The data had many investors asking, what does the payroll data mean for the Fed?
When the closing bell sounded, the Dow Jones Industrial Average (DJIA – 13,625.6) tacked on nearly 6 points, a paltry gain of 0.4% for the session. Despite a scant gain for the day, the Dow added 1.9% for the week. To end this week on a positive note, the Dow overtook its 10-week and 20-week trendlines for the first time since the end of October.
The uneven stock market yesterday didn't provide good opportunity to trade options, but the payroll data did offer a good spike up for the forex players! It's good to be a options and forex trader at the same time.
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