After slipping 12 points yesterday, DJIA adds 2 to 10574 today, meaning the index has moved 10 points in two days. Sure, it’s cold in New York these days, but that is practically icebound. S&P 500 adds 1 to 1137, Nasdaq Comp slips 8 to 2301. NYSE volume’s light.
Sen. Dodd announces retirement, as well as other prominent Democratic retirements, scrambling all the political calculus. Services sector report shows it on the edge of expansion, and still mainly shedding jobs. ADP puts December job losses at 84,000. Fed minutes show central bank still worried about strength of the recovery.
Jobs will continue to be a focus this week, with tomorrow’s initial jobless claims report and Friday’s monthly jobs report. Tomorrow, keep an eye on the numbers for emergency extended benefits; that’s what people claim after their “regular” unemployment benefits run out and they still haven’t found a job. It’s been rising sharply, which says people are still having trouble finding new jobs.