The jobs number was in negative territory. Not one of the 80 economists surveyed by Bloomberg predicted it would be that low. You could have made 140 dollars per 100 shares of SPY shorting in the pre-market and covering before the squeeze.
In other news, the ISM index was slightly better than expected. The initial market reaction was bullish, but I suspect that was hampered by thoughts of a smaller rate cut. Gold has been down, railroads up, mortgages are up (Fannie, Freddie, etc), but what is up has been trending lower and only has relative strength because of a strong open. Everything else I'm looking at is kind of mixed.
