There was a bit of a divergence between the tech heavy Nasdaq 100 and the more financially weighted SP 500. The stodgy Dow Jones Industrial Average was largely unchanged.
This is indicative of today's market action which was driven by expectations of more monetary stimulus from the Fed and the ECB, feeding into the banks, and trickling down to the real economy.
Intraday commentary on the Non-Farm Payrolls report here.
Once the QE comes, I expect the market to begin selling off as the focus turns once again to slack earnings, weak employment, and more revelations of financial fraud. The elections may provide a temporary diversion, bread and circuses.
