Jobs Report in focus today:
Did the job market rebound in April? Was the economy’s weak performance in the first quarter of 2015 another weather-related fluke or a sign of something more ominous?
At 8:30 a.m. Eastern time, Wall Street, the Federal Reserve and the rest of us will get a hint as the Labor Department reports the latest data on hiring and unemployment last month.
Initial jobless claims at 8:30 a.m. ET are expected to come in at 280,000, up from the previous week’s surprisingly low 262,000 reading. Natural-gas inventories are due two hours later.
Companies reporting earnings in the pre-market include Apache, Regeneron, Priceline.com, Molson Coors, Melco Crown, Canadian Solar, and Orbitz. CBS, Nvidia, and Nuance Communications are scheduled for after the closing bell
Jobs report could help clarify a muddy US economic picture
The government’s April jobs report being released Friday could bring some clarity to a fuzzy picture of the U.S. economy.
The economy likely shrank during the first three months of the year. And hiring slowed sharply in March.
Economists have pointed mainly to temporary factors, especially harsh winter weather that kept consumers away from shops earlier this year. A labor dispute at West Coast ports also delayed shipments of parts and contributed to a sharp drop in exports.
Stocks to Trade | Friday May 8, 2015
- SPY trading range is getting tighter with a clear wedge coming to a head. We can finally expect an expansion in volatility.
- A lot more stocks below the 20sma in my scans than above (almost 2-1)
- BUT… more trade set ups long than short
IWM confirmed a new downtrend this week, $121 is the level to watch for momentum or support.
Interesting Chart Lessons:
Earnings in play today > 1M avg shares: JD, NRF, NRG, MHR, HEB, HMY, HCN, TRCO,
Bullish Ideas Volume Price ATR: HOT, CTRP, MA>93, RAI, IBM, ALTR, CRM, HLF, AMZN, CAM, YUM, HCA
Bearish Ideas Volume Price ATR: WYNN, BIDU, TIVA, BA, KSS, NOV, APA, CVX, OXY
Weak Stock Weak Close: DDD, NOV, YHOO
Strong Stock Weak Close: -TASR, EPE
Weak Stock Strong Close: WFM
Strong Stock Strong Close: ATVI, SUNE, SCTY, YOKU, TSLA
20 day Breakdown: – GSX, SU,
20 Day Breakout: – ATVI, BRCM, GT, ALLY, SUNE
2x Normal Volume: YELP, WFM, BABA, CY, OIH, GSK, MOS, YHOO, IP
Core Watch List Longs: SWN, BRCM, NEM>26.50,BK, DIS, AKAM, JNPR
Core Watch List Short: COP, KLAC (LONG TERM PENNANT),
Inside days: CRM, WYNN, BA, FEYE, AMGN, AAPL, SBUX, MGM (19.50 support), AKAM, JNPR, MSFT
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