Stocks Have Modest Gains Ahead of Jobs Report

Equity traders are hiding their hands carefully as we approach Friday's government jobs report.  Its harbinger, the sometimes flawed ADP jobs report will come out tomorrow.  It has been and continues to be the Fed's practice to purchase MBS bonds with the proceeds and profits from the sales of its huge cache of MBS bond and Treasuries.  The Fed will be buying billions tomorrow.  The Dow closed up 41 points today.