U.S. Economy Adds 110,000 Jobs in October


Stocks in U.S. Advance Amid Jobs Report as Investors Await Fed Statement – Bloomberg.

This follows an upward revision of September employment from 91,000 to 116,00.

Small and medium sized companies produced the bulk of the gains. Large corporations actually shed some jobs.

The news have sent the markets up in New york today, despite the uncertainty about Greece.

In Greece, the PM and his proposed referendum on the debt and rescue got the backing of his cabinet but the parliamentary vote of confidence is still set for Friday. If the government loses the vote, Greece will most likely have no government by the weekend.

There have been protests at the G-20 meeting in Nice, France.

The Federal Open Market Committee, FOMC, plans to release a policy statement in Washington today. FED chairman Bernanke will hold a press conference later.

In a candid statement showing the disconnect between Wall and Main Streets, Richard Bernstein CEO of Richard Bernstein Advisors LLC said that market strategy is not influenced by whether the main economy growths or goes into recession.

Wall Street lives in a world of its own.

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