Zeev's Turnips Patch-No Politics (ZEEV)

[jdaasoc]

RE jobs today 455K

I am ironically glad that jobs data was not good. First benefit is that remaining who are working will drive GDP higher by whatever 2-3% increase being reported tomorrow morning.
Secondly, I am glad that most states are handing them $400 a week to comtemplate their navels which spending much of that money at WMT, Costco and hopefully paying refinanced mortgage with C and WM.

This sideways squeezing out of higher profits can continue for a while -- first 300 S&P stocks reporting 9% higher earnings -- unless you are one being squeezed out of job or benefits.