This is The Wall Street Digest Hotline Update for Friday, October 5, 2007, at 6:00 p.m. EST.
September's Job Creation report eased worries about a recession. At the close, the Dow jumped almost 92 points, closing at 14,066, while the Nasdaq gained 46 points, closing at 2,780. Oil closed down $0.22 to $81.22 per barrel, and gold closed up $3.40 at $747.20 an ounce.
One hundred ten thousand new jobs were created in September. Job creation figures for August were revised upward from a loss of 4,000 jobs to 89,000 jobs created. Another plus: average hourly earnings rose 0.4 percent, which was above the consensus number of 0.3 percent.
Stay fully invested! Stock prices in Asia, India and the emerging markets will outperform the U.S. stock markets because of the falling dollar.
Global/international investments will enhance your investment returns as the dollar declines against other currencies. Stay close to our telephone/e-mail/website Hotline Updates.
The next Hotline Update will be on Tuesday, October 9, 2007, at 6:00 p.m. EST