On Tuesday, I posted a picture of an optimistic headline from Yahoo. It said a strong jobs number on Friday could give the market a boost and I viewed it as out of place. Generally the headlines at Yahoo are news, not cheer leading.
Anyway, we found out the result today and the three-day buildup to today's jobs number resulted in a 3.4% drop as of 3 PM because those numbers were absolutely horrible relative to the optimistic expectations.
Personal Spending Jumps More than Income in March
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Disposable (after tax) income rose 0.5 percent in March. Real (inflation
adjusted) income rose 0.2 percent. The rise in spending outpaced the rise
in income.
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