In his Daily Market Notes report to investors, while commenting on whether if this is a good time to buy stocks, Louis Navellier wrote:
It looks like we just went through the pause that refreshed and these oscillations are about to end. And one of the reasons is, is a lot of the things that were overhanging the market have dissipated. Obviously, the deficit ceiling is no longer a concern. Higher energy prices impacting Europe and other countries are now dissipating because Russia reassured Europe they have plenty of natural gas. Also, crude oil prices have started to ebb. Some of its seasonal pressure. A lot of its OPEC increased their production. So that energy inflation that was starting to impact some economies severely is now dissipating.
Today’s Labor Department figure that only 194,000 new payroll jobs were created in September, was a massive disappointment since economists were expecting 500,000 new payroll jobs. Ironically, despite the weak September payroll report, the unemployment rate declined to 4.8%.
It appears that the primary culprit behind the disappointing September payroll report was attributable to a 144,000 decrease in education jobs and an 18,000 decline in healthcare employment. I should add the national shortage of school bus drivers and cafeteria workers is more likely attributable to higher competing wages at transportation companies and restaurants. Overall, due to the disappointing September payroll report, the Fed now has an excuse to postpone its tapering if it wants to wait a bit longer.
A Good Time To Invest In Stocks
We survey our investors each week, and this week’s topic was whether or not now is a good time to invest in stocks. Despite market gyrations, retail investors remain bullish.
Heard & Notable:
Rare Pokemon Oreos are selling for thousands on eBay. One cookie featuring a rare Pokemon sold for $15,000 online, giving new meaning to the catchphrase, “Gotta catch ’em all.” Source: National Public Radio