Midday Market Update 11-06-09

" The Labor Department gives us another sobering report more bail out money and Starbucks results and profits. I'm Chris this is -- midday market report. The Labor Department released nonfarm payrolls this morning the US economy shed 190000. Jobs in October. Better than last month but considerably worse than economists' expectations. The unemployment rate now stands at ten point 2% the first time we -- double digits since 1983. Looking for a silver lining if you look hard enough you'll find that 34000 temporary workers were hired during the month. First time we've seen an upside number and that segment during this recession. Temp workers are usually higher first before employers bring on line in -- needs. -- turnaround continued its fiscal what quarter the coffee house reported profits as expected. But more importantly -- 2010 will be better than previously expected. Cost savings such as the closing at 800 locations during the past year at Starbucks regain profitability. And Fannie Mae will ask the US government for an additional fifteen billion dollars in assistance before the year ended. The mortgage lender already holding almost fifty billion dollars in bailout money. Reported disappointing quarterly loss of nearly twenty million dollars that's -- market report. In New York I'm Chris --"