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With all the great speeches from the Democratic Convention, it's probably easy to over look the fact that investors are bullish on the prospects for corporate earnings.

The Standard & Poor's 500-stock index closed at 1432.12, its highest point since January 2008.

The Nasdaq Composite closed at 3135.81, its highest level in more than a decade, reaching a level not seen since the dot com crash of 2000.

The Dow closed at 13292, its highest point since December 2007.

But better news still is the fact that we are still seeing steady but modest private sector job growth. Private-sector employment increased by 201,000 from July to August on a seasonally adjusted basis, according to the latest ADP National Employment Report released today.

The ADP report shows that the service sector added 185,000 new jobs, while the goods producing sector added 16,000.

Construction was a bright spot, rising for the third consecutive month. With an addition of 10,000 jobs, the sector saw its biggest gain since March.

Highlights:

    Small businesses (representing payrolls with 1-49 employees) +99,000
    Medium businesses (representing payrolls with 50-499 employees) +86,000
    Large businesses (representing payrolls with more than 499 employees) +16,000


So hey folks, the wind is at our backs. We have hit home run after home run at the convention. We have very encouraging news from the business sector from a stock market perspective. We are still seeing modest but steady private sector job growth. President Obama will hit a grand slam tonight when accepting our party's nomination to be our standard bearer.

Based on Nate Silver's concise modelling of the electoral college battle, I feel very good about having President Obama serve a second term. Now let's get the gavel back to Nancy Pelosi from Mr Suntan and keep Harry Reid our Majority Leader.

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