While You're Waiting For The Main Event

Pay no attention to the 340 point loss on the Dow today because of bad August job numbers...and the anticipation of worse August job numbers tomorrow.

The employment reports rattled the market's cage more than usual because Friday is the big August jobs report and investors are worried about what they might hear. Economists expect to see nonfarm payrolls shrink by 75,000 and for the unemployment rate to hold steady 5.7 percent.

"Although some of the recent increase in claims reflects technical factors—claims had been around 370k for months until they began to spike in the middle of July—the increase almost certainly reflects deterioration in the labor market," Tony Crescenzi of Miller Tabak wrote in a note to clients. "This deterioration will likely be evident in upcoming employment news."

Remember, the GOP knows the economy. If you're sure 4 more years of their economic policies of deregulation of everything possible and rampant greed driven markets will be great for your continued employment, please vote for them in November.

For the other 99% of us, the other guys might be better.