Jobs Number Strong Across The Board

The September jobs report showed strength across the board, with 248,000 jobs created in September, versus expectations of 215,000. The unemployment rate of 5.9 percent also beat expectations of 6.1 percent and marked a 6 year low. Additionally, August was revised upward to 180,000 larger than initially estimated at 142,000. December S&P 500 futures rose initially on the news to 1953.75, before dropping quickly to 1945.50. They have recovered some of that drop to stand at 1950.50, up 12 points or .62 percent. Gold is down sharply on the jobs number, with December futures trading 1200.90, 1.17 percent lower. Gold is trading just above critical support at the 1200 level.