Is Wage Growth Strong?
First, before I get into wage growth, I would like to correct an error I made in a previous article where I said the 8 day losing streak in the S&P 500 was tied for the longest ever. Today’s down day is the 9th straight which is the longest streak since 1980. The longest losing…
More Jobs Than Ever
Today we got the BLS non-farm payrolls jobs report, which indicates more jobs than ever. The headline missed expectations as we saw 161,000 in jobs gains instead of the 173,000 expected. Because of revisions to the past two months we saw an increase of 44,000 jobs. While my expectations for a miss were wrong, we…
Factoring Movement Into Tuesday
With the presidential election spread continuing to widen we turn to the most immediate economic news. Tomorrow will be last jobs report before the election. It will also be a key measure of what the Fed will do in their last meeting of the year. The markets have already factored in a 66% chance of…
The Market Looks Unstable
The market looks unstable and extraordinarily weak right now. As I’m typing we are about to see the 8th down day in a row in the S&P 500. Trump is gaining in the swing state polls. The jobless claims have been shooting higher. Finally, Facebook had a bad earnings report which is sending it and…
"So, Maybe July Then?”: Poor Jobs Report Puts Question Mark Over Fed
Bad news is good news. Or not. The market’s reaction to Friday’s NFP report betrays the extent to which investors and traders no longer have any idea how to read the Federal Reserve. There was a time when negative data was a guaranteed boon for risk. The worse the data, the better for stocks. Why?…