Jobs numbers are out. Payrolls increased 266,000 well short of the 1M expected. Futures are oscillating red to green and back in the interim as we approach the opening bell. That said, today’s read is another proof point that we’re one step closer to full economic recovery. Momentum is still building on the jobs front, so all eyes will be on how the markets trade going forward into any change in action taken by the Fed.
- U.S. economic reports helped sentiment, while applications for unemployment rose in this latest round.
- Separate data showed a rebound in productivity.
- Treasuries are off a bit this morning with yields well below recent highs. European markets are green.
- The Dow Jones Industrial Average hit a fresh all-time high.
- Copper soared to an all-time high on expectations that rebounding economies will spur a boom in global demand.
NYSE Bullish and Trending
We’ll wait for the markets to settle down before doing anything this morning, even though the NYSE is trending with breadth imp[roving.
New highs are trending. Look for this to continue if your bullish. Advancing stocks are still rising making new highs and new lows. We’ll watch the trend for any breaks or signs of a drawdown in the coming days.
We anticipate alot of speculation about the affect of todays jobs numbers. The financial media is active this morning, while the ultimate test is how price action reacts today and next week. Listen for any change in tone from the Federal Reserve. We’ll discuss today during the LIVE broadcast.