JOBS JOBS JOBS

The markets are mixed with the big caps higher and the small caps and tech stocks generally mixed to lower. The two sore thumbs sticking out today are the semis and the brokers. Neither are participating in today's rally and they are probably giving some pretty good clues of the future direction of the major market indexes.

Sector leaders today are internets, oils, biotechs and consumers. Metals, airlines and brokers are bringing up the rear along with the small caps and the semis.

Market internals are slightly bullish on NYSE (+600) and about flat on NAZ.

The NAZ has already filled its gap by going red earlier this morning and I suspect the major indexes may close that color.

Barry Ritholtz with some terrific analysis of the latest NFP numbers and he is none to optimistic. Here are some of the highlights:

1) Job growth remains skewed toward lower paying jobs;

2) Retail is weak and has stopped growing;

3) Almost 1/2 the rise occurred in health and social assistance industries;

4) Job growth since 2004 has slowed substantially.

Not exactly a resounding BOO YAH for fellow Syosset graduate Secretary of Labor Elaine Chao.