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Finding Stability

May 29, 2012 – 5:02 pm

The short week, due to Memorial Day, will give us little in U.S. economic data until Friday when there will be a blizzard of statistics led by May’s payroll numbers. The consensus is for 150,000 new jobs with no change in the unemployment rate.

Most investors will be watching Europe as Spain takes center stage with its government bailout of one of its largest bank, while at the same time, commenting that they will not need any international assistance in dealing with this crisis. Similar to the U.S., they are struggling with a property bubble as banks write down more and more bad debt.

Greece of course is and will continue to be in the news with new elections next month. In the meantime, nothing is being done to resolve the ongoing financial crisis in that failed system.

The stock market, while struggling with what is happening in Europe, will be focused a little closer to home this week as it anticipates the end of the week job data. Recently, economic numbers have been steadily, but slowly improving and that gives traders and investors a little cover as they search for stability in an unstable world.

Good Trading
Steve Peasley

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