Movin' on up...

WOW!  We are moving way up in the market, see the chart below!  We have numerous support levels! 

 

Key Economic News:

After an early morning report on labor demand, we have jobless claims, productivity and costs, and Treasury Secretary Geithner….

The Monster Index of on-line job advertising jumped 8 points in April, a bit more than half of which was due to seasonal improvement in labor demand.
8:30: Unemployment insurance claims…another step down? Analysts expect only small declines in jobless benefit claims for this week’s report, which will soon be overshadowed by the payroll figures tomorrow. The most important incremental information in today’s claims report for tomorrow’s payroll figures – the total number of people receiving benefits for the week ending April 17 – is also unfortunately apt to be contaminated by the temporary lapse in the emergency program. It is unlikely that this total will return to normal given that the president signed the extension on April 15, the Thursday of that week. If the figures do increase sharply, then this will be a sign that they have returned to “normal,” otherwise we would discount them pending confirmation of a genuine decline next week.

 

For initial claims, median forecast (of 45): 440k, ranging from 425k to 455k; last 448k.
For continuing claims, median forecast (of 12): 4.61 million

1. How Recent Market Changes Can Affect You
2. Wild ride!