Stocks are up today, following this morning’s fantastic jobs report, but we wouldn’t bet our life that they’ll stay in the black until 4:00 PM.
See, the dollar is up, too, in a violent reversal of the traditional inverse correlation between stocks and the currency. Ideally, for American investors and consumers, they could both rise at the same time.
But if the dollar is powering higher on expectations of Fed tightening, and that notion spreads to stocks, then watch out!
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See Also:
- The Backward Revisions To September And October Are Great News For Jobs
- BOOM: Unemployment Just 10.0%
- Growing Signs Of A Double Dip And A Weak Jobs Report Guarantee Cheap Money As Far As The Eye Can See