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Investing Specialists

Employment Report Dodges the Wrath of Sandy

Despite worries about Hurricane Sandy, employment data showed more of the same boring growth.

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For a week with a fair amount of economic data, both good and bad, markets seemed remarkably tame. There was almost no news out of Europe or China to give the market much reason to move. And with earnings season done, there wasn't much news on the corporate front to move things along.

In a nutshell, the employment data showed more of the same boring growth, despite my worries about Hurricane Sandy. ISM manufacturing data looked surprisingly weak even as the same report for the services sector was unexpectedly strong. Auto sales were far better than projected, helped along by the need to replace cars ruined by Sandy. Home prices continued to rally, according to  CoreLogic (CLGX), and construction spending managed another increase.

Robert Johnson, CFA does not own (actual or beneficial) shares in any of the securities mentioned above. Find out about Morningstar’s editorial policies.