Despite a jump in Facebook stock of 5% due to better than expected earnings, the markets fizzled ahead of tomorrow’s important unemployment report. Robert Pavlik, chief market strategist at Boston Private Wealth surmised to CNBC:
“I think people are just a little leery of tomorrow’s employment report. It looks like the Federal Reserve is probably going to have to move on interest rates in December. At least that’s the indication. They told us they’re going to rely on the data and the data doesn’t seem to support a rate increase.”
Jim Paulsen, chief investment strategist at Wells Capital Management, told CNBC that he’s warning clients that the chances of an economic recession are growing. Watch video below.
Here are the final numbers from Thursday, 11/5/15 on Wall Street:
Dow Jones Industrial Average: 17,863.43 (-4.15/ -0.02%)
NASDAQ: 5,127.74 (-14.74 / -0.29%)
S&P 500: 2,099.93(-2.38 / -0.11%)