Friday, November 2, 2012

Someone Agrees with Us ...

9:55 EDT - Consumer discretionary sector is the strongest in early trading following better-than-expected October jobs report, but headline 171,000 job gain doesn't necessarily suggest consumers are on the verge of a spending spree. They need more cash to spend, but average hourly earnings were down last month, and have only grown 1.6% during the past 12 months, not keeping pace with a 2% y/y rise in consumer prices in September. (        

  (END) Dow Jones Newswires


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