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Two Ways To Play: Jobs Pull Disappearing Act


Strengthen your portfolio in good times and bad.

According to Bloomberg, U.S. employers cut jobs for a sixth consecutive month and services shrank during the month of June.

This morning the Labor Department issued its monthly jobs report. Nonfarm payrolls fell by 62,000, slightly greater than economists expectations of a decline of 60,000. Further, May's numbers were revised to a 62,000 decline versus a prior figure of a 49,000 decline.

The unemployment rate held at 5.5% after jumping the most in two decades last month, and average hourly earnings on a monthly and annual basis were inline with forecasts increasing 0.3% and 3.4% respectively.

Elsewhere, the Institute for Supply Management's non-manufacturing index sank to a five month low. The index fell to 48.2 versus economists expectations of 51.0. A reading below 50 signals contraction.

For more, see Mr. Practical's New Jobs Magically Vanish.

From the Bull Pen: In this environment, are bulls comfortable in the commodity/agriculture space? Was the pullback in Agrium (AGU) to its 50 DMA ($92.84) what the bulls were looking for?

From the Bear Cave: If the economy is losing steam, will the consumers continue to purchase Coach's (COH) high priced bags? Bears can fade the rally as the stock approaches the $30 level.
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