Wall Street Closes Mixed On Inflation Jitters

AP:

Wall Street closed narrowly mixed Thursday as investors traded cautiously ahead of the Labor Department's Friday reading on December employment. Inflation jitters remained high as oil prices set a new trading record above $100.

Investors who sent stocks skidding Wednesday amid economic concerns and rising oil prices initially took some solace in findings released Thursday by payroll company Automatic Data Processing. The ADP report said the economy added 40,000 private sector jobs last month, above the 30,000 forecast of economists polled by Dow Jones Newswires.

Read the whole story: AP

Comments

[Dendroica]

Pretty crappy.

The fed will be forced to cut at least a quarter, maybe 2 (or two consecutive meetings).

Note to mmckinl- you don't seem to appreciate that the people working in the BLS have more credibility than you'd want. That is the problem with conspiracy theorists, reality isn't their strong point.

[mmckinl]

Yes indeed the jobs report ...

One can only imagine the seasonal adjustments they cook up this time ... the magnitude of the sleight of hand will make David Copperfield envious.