Will the Jobs Report Delay the Taper?

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Oct. 22 (Bloomberg) -- TD Ameritrade Senior Vice President Steve Quirk discusses today's markets on Bloomberg Television's "Lunch Money." (Source: Bloomberg)

I want to make sense of today's session.

We saw a gain on the back of the jobs report initially, then down ward.

What have we been seeing?

Initially, we saw the return of some economic data that is market moving.

The data was a little bit worse, the interpretation by many of the clients out there was that this is going to delay the taper were push that back in -- or push that back.

As a result, we saw the rally.

Over the last couple days, we have been seeing volatility go higher.

That is a little concerning to traders.

As a result, we saw the markets step back and say look, we have had really nice gains over the last 2 weeks to 3 weeks and the broad-based indices, time to take a breath.

We have the s&p 500 again at a record high.

Are people saying we have seen enormous gains, the best since 2003, do we have enough to justify we have been saying?-- seeing?

Do we have enough to justify the movement in such a short.

Of time -- in such a short period of time.

Over a longer duration, clients could stomach that better.

Everybody realizes that gains of that magnitude in a short period of time can be accompanied by pull back.

I am curious about netflix specifically.

Another situation where we saw it spike up after its earnings report last night, since then, it has turned negative.

A50 five dollar range in a single session.

-- a $55 range

This text has been automatically generated. It may not be 100% accurate.


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