JOBS JOBS JOBS

Jobs a bit light at 111,000 v consensus of 150/160 K with huge upward revisions for Nov and Dec; unemployment rate ticks up to 4.6% and hourly earnings move up .2% v consensus of .3%;

Futures initially traded lower on the news but have now flipped to the green as goldilocks scenario reappears. The 10 year rate is trading down to the 4.80 area on the heels of the "worse than expected headline number."

On the wires- CTSH target raised at JEF to $100 from $86 and raises Q4 ests while the target is raised to $97 from $85 at B of A; B of A upgrades MSFT to Buy with a $35 target; EOP reaffirms support for Blackstone transactions; GS upgrades MUR to buy and adds it to their Investment Buy list; Deutsche Bank upgrades ERTS to hold from sell and Needham upgrades to Buy with $60 target; global chip sales hit a record $247.7B in 2006, up from $227.5B in 2005; Pru upgrades VLO to overweight from Neutral and raises target to $65 from $61; B of A reiterates Buy on INTC; Indian stocks reach new highs (SENSEX and NIFTY; WY ADM and ACCP profiled in Business Week;

Gapping up- ISRG ERTS CERN YRCW TIVO

Gapping down- SGTL RACK AVID AMZN AKAM SAP NYX AAPL

Finally, Voldemort/Cramer is bullish on FCX CX MSFT HPQ CMCSA LVLT ADBE HAL VOLC UTX ASD AUY GILD and bearish on MMM and SWHC.