The Dow, S&P 500 and NASDAQ all recorded gains today, with the S&P turning positive for the first time in five days. While oil prices had continued to falter they appear to have regained some stability and after falling to a five year low rose slightly to $48.65 per barrel. The stabilization of oil prices alongfriday unemployment report with market-favorable Fed comments from the most recent meeting’s minutes helped keep Wall Street happy at least for today.

At the same time, the yield on the 10-year Treasury dropped below 2.00% and the benchmark 30 year FNMA coupon dropped six basis points to 105.06.

Fed comments from the most recent set of FOMC minutes made it relatively clear the inflation rate didn’t necessarily have to hit the 2.00 target before an increase in rates was warranted. 30 year mortgage rates for real estate investors hovered around 3.75% today and 3.25% for the 15 year note. For those buying a primary residence, interest rates can be found in the 3.50% and 3.00% range in most markets.

While there are a substantial amount of economic reports this week, not many have seemed to have had much effect on equities or securities either way. However, all eyes are squarely on Friday’s jobs numbers. The unemployment rate will certainly have some impact along with labor participation but investors are looking to see if November’s job creation can be matched. In November, there were 321,000 new jobs created, one of the highest levels in quite some time and highest for the year by far. If there is anything above 300,000 those job creation numbers can be confirmed, otherwise it might appear as nothing more than an anomaly.

There aren’t many who think November’s job count was an aberration however, not with GDP coming in at 5.00% for Q3 and 4.6% the previous quarter. That’s just too much growth not to assume employers aren’t hiring more people. With a good number, it might also stem the oil slide in anticipation of a stronger economy.