Stock Market
All comments and Stock Market Ananlysis are made by Guy Brumley. Guy has been trading the Stock Market daily since 1992.
Trading, evaluating stock prices and predictions
Stock Market Commentary 6-5-2009
The market received mixed news today with the weekly unemployment numbers dropping for the first time in 5 months, while Retail Sales were down 4.6% on average. The indexes traded in a tight range, with the DOW ending up 75 points. I said yesterday, I thought the market would end flat.
The big news will come at 7:30 CDT Friday morning. The monthly employment numbers are expected to be in the 500,000 to 521,000 area, and the unemployment rate is expected to reach 9.2%. The fact is, it will be bad, and the market will decide it is already priced in.
Then we should rally?, and the close will tell where the big money is betting. I think we stay above 8600, and may see 9000 as the next test.
Meanwhile, GLD was up $1.82, along with FCX, And MT. These stocks represent commodity metals, and will be the first to show strength in a market recovery. The market internals were positive, today, and should be an indication of strength for Friday.
Return to Previous Market Commentaries