The market is poised to be opened lower to flat today after a series of up days. The September job report announced this morning, more jobs are created last month. Monthly wage rate of increased is only 0.2 %. Inflation may not be a concern?
Job growth decelerated to its slowest pace since the Katrina last year. Nonfarm payrolls expanded by 51,000 in September lower than the 123,000. But the separate household survey showed more strength. The unemployment rate went down to 4.6% in September from 4.7% in the previous month, same as expected. Furthermore, there were 62,000 more jobs created in July and August that previously announced. Average hourly earnings increased 4 cents, or 0.2% to $16.84 vs. estimate of a 0.3% gain. Earnings are up 4.0% in the past year.
(MU) is poised to open lower after the disappoiting sale number.
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