When we look at economic indicators we see a mixed bag. September 11 skewed September's and October's data lower, adding up to generally lackluster conditions. There is nothing new as the housing market remains the sole source of strength and the manufacturing sector the central source of weakness.

The daily reports - anecdotal ones anyway - on retail sales are showing a mixed bag. Some stores are doing well, others are not. It certainly depends on the mix of goods that retailers are selling as well as the prices they're offering. Early news on auto sales suggests that cut-rate financing is continuing to help sell cars and trucks.

The Fed doesn't like to admit that they base their monetary policy on the employment report, but there's no doubt they'll be happy to have it at their fingertips during the December 11 FOMC.