Job growth slows, but stocks bounce back and forth

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After the Open... Nonfarm Payrolls rose more slowly than expected in July, adding 209K jobs to the economy, fewer than the 220K consensus estimate and down from 298K in June. Other economic indicators, including spending and inflation, were slightly better than expected. It is a familiar looking report, really, and the Street is having a familiar reaction: stocks are without a clear direction.

Though this is earnings season, the general tone of stock earnings is also familiar. There have been plenty of misses, but no real disasters, and plenty of promising forecasts as well. Europe's financial woes, as well as the world's increasingly certain inability to halt its entrenched conflicts, is taking its toll on long-term optimism.

Here are your Friday morning market metrics. Industries doing well today include Personal Products Construction & Engineering, and Personal Products. Industries showing weakness include Consumer Finance, Oil Gas & Fuels, and Leisure Products.

The VIX is down 7% to 15.77 after closing on Thursday at 15.77. Apple ( AAPL ) options are the most actively traded today, with 11K September 105 calls and another 11K August 95 puts changing hands, in what appears to be a sheer volatility play. The put-call volume ratio is 1.17, (773,536/903,042). NYSE Adv/Dec 1,414/1,564. Nasdaq Adv/Dec 1,061/1,399. 

Julian Close has been a business writer since the first day of the twenty-first century, having written for PRA International and the United Nations Department of Peacekeeping. He graduated from Davidson College in 1993 and received a Master of Arts in Teaching from Mary Baldwin College in 2011. He became a stockbroker in 1993, but now works for Fresh Brewed Media and uses his powers only for good. You can see closing trades for all Julian's long and short positions and track his long term performance via twitter: @JulianClose_MIC .


This article was originally published on MarketIntelligeneCenter.com



The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.



This article appears in: Investing , Economy

Referenced Stocks: AAPL

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