Stocks slipped Friday after the US government report showed more jobs were lost last month than expected. Quincy Krosby, chief market strategist at Prudential Financial, and David Spika, vice president and investment strategist at WHG Funds, discussed their insights.
“The job report this morning is confirmation of why you want to invest in companies with exposure to faster-growing foreign markets,” Spika told CNBC.
Unless you are a full time trader, broker or investment guru, exposing your money to the international market while the dollar is so volatile is simply crazy.
The employment and job numbers were so low because this is the first major report since they laid off all of the Census workers! I said this back in January, March, April… they inflated the numbers to look good and buy themselves a few more months. Now we are seeing that we actually have a net loss since the beginning of the year – unlike Obama’s claim that they created 130,000 jobs each month in the first and second quarter (or some other nonsensical number). These were Census workers being hired one month, then 6 weeks later they were “re-hired” to be trained. ...Continue ReadingLeave a Comment