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Monday, September 9, 2013

Fresh off Friday’s NFP data, and the first full weekend of NFL action, market participants return this morning with a shift in focus.

Fresh off Friday’s NFP data, and the first full weekend of NFL action, market participants return this morning with a shift in focus. While unemployment data last week kept the uncertainty of QE tapering alive, the more pressing matter of Syria takes center stage to start the week. The House and Senate will continue to digest the mounting evidence in the case against the Assad regime with the latter scheduled to vote as early as mid-week on whether to allow a U.S. military strike against Syrian targets.  On top of that, investors will be gearing up for next weeks Fed meeting as the debate on what Friday’s numbers really mean for the future of the Feds current monetary policy. Just 169,000 jobs were added in August with the unemployment rate dropping to 7.3%, albeit from a reduction in the labor force participation rate. Gold is the only one in the metals complex in positive territory to begin the week. The yellow metal is trading just .2% higher after closing last week at $1386.50. Have a great day!

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