Good morning!
Stock market futures for Friday, Nov. 7, forecasted a 26-point rise from yesterday's close on news that the unemployment rate dropped to 5.8% for a six-year low. Yesterday, the Dow Jones hit another record high, adding nearly 70 points on the day. The S&P 500 Volatility Index (VIX) - the market's volatility gauge - dipped another 3.5%.
Today, watch for how the market reacts to the jobs report. This morning, we learned that the U.S. added 214,000 jobs in October, signaling positive momentum in the U.S. economy. As the economic picture improves, investors are waiting on the Federal Reserve to provide more guidance on when it might raise interest rates. New York Federal Reserve Bank President William Dudley said this morning that he would welcome a rate hike, as it would be the sign of continued economic growth in the nation.
Here's a roundup of the top stock market news stories, plus our "Money Morning Tip of the Day."
Full U.S. Economic Calendar November 7, 2014 (NYSE: all times EST)
About the Author
Garrett Baldwin is a globally recognized research economist, financial writer, consultant, and political risk analyst with decades of trading experience and degrees in economics, cybersecurity, and business from Johns Hopkins, Purdue, Indiana University, and Northwestern.