Monday's Market: In A New York Instant, Everything Can Change

Frederic Ruffy submits: SentimentStocks are trading mixed following a busy day of economic news. Equity markets moved broadly higher across Asia and Europe Thursday, which helped set a positive tone for morning action on Wall Street. Employment data was also in focus after data showed weekly jobless claims falling a better-than-expected 10,000 to 453,000 in the period ended May 22. Economists were looking for a drop of only 5,000.

By David Fry (ETF Digest): Chinese manufacturing data improved in October. Meanwhile, Japan is in full QE mode. Europe liked the blizzard of U.S. data, thinking it might spill across the pond. The IMF said a Greek deal is on the horizon ("Lost Horizons"?). U.S.

By David Fry (ETF Digest): We could start by noting Chinese Manufacturing Growth fell to 50.4 vs 53.3 previously. Of course, that's not impressive. The star of the show was the U.S. The nonfarm payroll data (aka unemployment report) laid an egg.

By Frederic Ruffy: Sentiment Stock market averages are mixed ahead of key jobs data Friday morning. After the 490-point rally Wednesday, the Dow Jones Industrial Average slipped at the open after the Labor Department reported that jobless claims rose by 12,000 to 402,000 last week. Economists were looking for a decline of 6,000 and the disappointing reading probably cooled some of the enthusiasm generated by ADP’s private sector report yesterday, which showed an increase of 206K jobs in November.

By David Fry (ETF Digest): You can almost hear Jack Welch's "I told you so" after Thursday's Jobless Claims data was released. The data (339K vs.

By Frederic Ruffy: Sentiment Trading was steady Thursday morning, but stocks moved broadly lower in afternoon action and the Dow Jones Industrial Average is probing session lows in the final hour. Economic data was in focus early after the Labor Department said jobless claims declined by 14,000 last week, which was roughly in-line with expectations.

Trader Mark submits:It will be interesting to see if Goldman Sachs nails this one. Outside of the monthly employment reports, the ISM reports (Manufacturing and Services) have served to become the most important reports on domestic economic activity.