Economic data Wednesday, on the surface at least, improved from recent reports. ADP Employment Report improved to 217K new jobs vs 183K expected & prior 186K.
There’s no question many temporary jobs in retail given the best price for generic cialis season. Productivity rose 2.2% vs 2.2% expected & prior 1.6%. Costs increased as well to 1.8% vs 0.9% & prior 1.4%. Oil Inventories rose to 1.2 million bbls vs prior 1.0 million bbls which caused prices to dropped below $40 temporarily.
Stocks fell heavily initially as crude oil carnage caused stocks to drop. This was followed again as Yellen spoke of the likelihood of interest rate increases. Lastly the ongoing shooting event in San Bernardino added to investor nerves.
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