Uncertainty continues to hover over the market, as everyone awaits the Senate’s vote tonight on a revised rescue plan that includes some tax breaks and an increase in FDIC protection from $100,000 to $250,000. Failure to approve something this evening would likely have a damaging effect to the Stock market tomorrow.
In other news, the ADP payroll report came in better than expected, showing 8,000 jobs lost when estimates called for a drop of 53,000. The big report, however, is still to come when the Jobs Report is released this Friday. Today’s report suggests that the Jobs Report will be better than expected, but many experts are still looking for a significant drop in jobs.
Currently, prices are bouncing a bit higher off the 200-day Moving Average.
PMZ Home Loans
1600 N. Carpenter Rd. Ste. C
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