NEW YORK (TheStreet) -- TheStreet's Brittany Umar spoke to Keith Bliss, senior vice president of Cuttone & Company, about the September jobs report and its effect on the stock market.
Bliss said equity markets seem to be back in the cycle where bad news is good news -- meaning poor economic results will force the
to postpone any plans for tapering its bond purchases until March at the earliest.
This is not only evident by the rallying stock market, but also by the decline in the U.S. dollar and falling yield in 10-year Treasuries, Bliss added.
Because of the government shutdown, the September labor report was delayed until Tuesday. For the same reason, the October data will be delayed by approximately one week.
Bliss said that report will still have an impact, but it may be less important because of third-quarter earnings, which haven't been overwhelmingly great.
While companies have continued to grow profits, he noted that top-line growth has been anemic. Bliss also suggested that more investors have been listening to management's longer-term views on both the company and the economy.
-- Written by Bret Kenwell in Petoskey, Mich.
Bret Kenwell currently writes, blogs and also contributes to Robert Weinstein's Weekly Options Newsletter. Focuses on short-to-intermediate-term trading opportunities that can be exposed via options. He prefers to use debit trades on momentum setups and credit trades on support/resistance setups. He also focuses on building long-term wealth by searching for consistent, quality dividend paying companies and long-term growth companies. He considers himself the surfer, not the wave, in relation to the market and himself. He has no allegiance to either the bull side or the bear side.