[video] Quick Take: November Jobs Report Pops, Country Adds 203,000
NEW YORK (TheStreet) -- The nonfarm payrolls for November came in better than expected at 203,000, topping economists' expectations of 185,000. TheStreet's Joe Deaux takes a look at the report with Sam Stovall, chief equity strategist at S&P Capital IQ.
Stovall suggested that investor sentiment was beginning to dim leading up to the report, with the S&P 500 declining for five straight sessions before Friday.
He added that the report was good, but not great. Revisions for the October nonfarm payrolls report were also lowered.
We are transforming to a self-growing economy from a stimulus-driven economy, Stovall said.The Federal Reserve will likely reduce its bond-purchasing program, he said, now that the economy appears to be able to stand on its own. While improving, the economy is still susceptible to stumbling and is considered vulnerable. Stovall said that the improvements have been gradual, which is good because the Fed won't begin to tighten its monetary policy immediately and can instead ease through tapering. He concluded that investors should remain bullish going into 2014 and continue following the trend. However, Stovall did caution that investors should be prepared for volatility. -- Written by Bret Kenwell in Petoskey, Mich. Follow @BretKenwell
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