Wednesday, July 4, 2012

Wall St Rests Ahead of Employment Friday; The LIBOR Banking Scandal and Why It Matters

Happy Independence Day!
The Wall Street crowd has the day off en masse today for the 4th of July. Then, for the next two trading sessions of the week, a boney group of traders will be on duty: better known as the ‘skeleton crews’. The timing is interesting for the skeleton crews since this Friday (the first Friday of July) features the release of the monthly employment data for June. Given the recent data highlighting a slowdown in global manufacturing activity, any better than expected figures from the massaged employment series could spark another day at the races for Wall Street. IF the jobs numbers.... please read more HERE....

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