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ADP Private Jobs Report Keeps Markets Higher

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March 30, 2011 – Comments (0)

The markets continued their march higher today, closing in on the 52 week highs.  The SPDR S&P 500 ETF (NYSE:SPY) are hammering on the highs of the day at $132.76, +0.90 (+0.68%). This is just slightly off the 52 week highs on the SPY at $134.69. The markets are higher today on the back of continued optimism after ADP Private Sector Employment was reported. The private sector gained 201,000 jobs which is very bullish for Friday's jobs report. On Friday, at 8:30am ET, the Non Farm Payroll Report will be released. Wall Street is now hoping for a number above 200,000.

Gold and silver started the day with solid gains but quickly fell back to the flat line as money flow started to head for riskier assets. The SPDR Gold Trust (NYSE:GLD) is trading at $138.27, +0.06 (+0.04%) while iShares Silver Trust (NYSE:SLV) trades at $36.35, +0.18 (+0.50%). These are both well off their early morning highs.

Gareth Soloway
InTheMoneyStocks.com

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