Everything Keeps Coming Up Roses

The market is getting another boost in early trading, despite a weaker than expected jobs report. The payrolls report before the open showed a gain of 88,000 jobs, the weakest in 2 years. Moreover, it was the first time in 11 months that the prior month's figures were revised lower.

But there was some positive inflation implications in the numbers, and the bond market rallied on the news, as it improves the odds that the Fed cuts rates sooner rather than later. The yield on the 10-year is lower at 4.64%. For its part, oil is flat around $63.

Another positive sign for investors is the continued M&A activity. The New York Post is saying that Microsoft (MSFT) has approached Yahoo (YHOO) about a deal. I view this as unlikely, and think the two companies would be better off trying to create some targeted partnerships or joint ventures. Also, Reuters (RTRSY) confirmed it has received a takeover solicitation.

This market continues to plod forward like the energizer bunny. They say traders are superstitious, maybe that's why I havent' changed my socks in 25 days!