Salient to Investors:
Bruce Kasman at JPMorgan Chase said we are not seeing a further loss of momentum, a very important positive, and the said economy is expanding at a 2 percent rate. Kasman said the employment report suggests that weakness in capital spending is not broadening out to hiring.
Confidence is growing at automakers as cars and light trucks sell at the fastest pace in four years.
The World Bank said growth in developing East Asia, which excludes Japan and India, will ease to 7.2 percent in 2012 versus 8.3 percent in 2011, and the slowest pace since 2001.
Philip Suttle at the Institute of International Finance said lawmakers will agree to allow some, but not all, of the scheduled fiscal contraction to take place, and tighteng the budget next year by 1.7 percent of GDP.
Joshua Dennerlein at Bank of America dobts the solid September jobs report will be sustainable and expect job growth to fade in Q4.
Kathy Bostjancic at the Conference Board said the economy remains on a slow, but not slowing, growth path.
Read the full article at http://www.bloomberg.com/news/2012-10-08/business-hiring-calms-concerns-about-u-s-fiscal-cliff.html