The primary stock indices were rebounding during the second open trading
session of November. European stocks closed stronger yesterday and this, in
addition to positive economic data posting during the U.S. trading session,
helped to push primary stock indices in the U.S. to higher ground. Jobs data
posted better than expected. According to the ADP report, U.S. companies added
about 110,000 jobs during the month of October. This was about 10,000 better
than what most economists had been anticipating. In addition to this positively
skewed data, the Challenger Gray & Christmas consulting firm reported that the
number of layoffs planned by employers in October dropped lower. The consulting
report revealed that layoffs during the month dropped lower by approximately 63
percent when compared to the numbers that posted the month prior. Stocks in the
U.S. were on the mend last session and the better than expected jobs data was a
primary catalyst. Fed Reserve Chairman Ben Bernanke also reiterated that the
Feds are prepared to take additional action to help support economic recovery
and stability in the U.S. As of last session close, the DJIA, Nasdaq, and S&P
500 finished in the green. The Dow Jones Industrial Average was higher by 1.53
percent at 11,836.04. The Nasdaq was higher by 1.27 percent at 2,639.98. The S&P
500 was higher by 1.61 percent at 1,237.90. Frank Matto
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