U.S. jobs report: What you need to know Today
America’s job market momentum may slow down soon.
The Labor Department publishes the January jobs report at 8:30 a.m. Friday. Economists surveyed by CNNMoney project that the economy added 197,000 jobs last month. That would be way down from December, when the economy added 292,000 jobs.
The unemployment rate is projected to stay steady at 5%, where it has been since October.
The job market has been a bright spot in an economy that’s lately flashed several warning signs.
U.S. economic growth was a mere 0.7% in the fourth quarter.
The manufacturing sector has contracted for four straight months; spending on construction projects is declining; and American companies are hurting. The broad S&P 500 is down 6.2% this year.
Another key measure of the labor market has been weak: The 4-week average of people filing for unemployment claims has increased since October, meaning more people are out of work. This usually foreshadows future monthly job losses.
Pete’s Day Trading Notes:
- Looking for a pull back to but a few stocks that had strong earnings: FB, GOOGL, UA.
- SPY trading range on the daily chart, makes day trading decisions less aggressive.
- First hour this week offering solid opportunities to make money.
Stock Market Today: Map of the S&P 500
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–> Top 25 Proprietary Trading Secrets
Jobs Report will Set Stock Market Tone Today 2-5-16
Here’s your complete guide to the US Jobs Report https://t.co/4Z8hhq5a7k
— Business Insider (@businessinsider) February 5, 2016
Using Kensho, a hedge fund analytics tool, CNBC Pro screened for which securities do well on jobs report days.
The US Dollar may find a lifeline in January’s employment data breathes new life into Fed rate hike speculation, lifting the currency after two days of aggressive selling.
Weak manufacturing activity casts a cloud over Friday’s jobs report.
$SPY remains in a trading range. The $187-194 window shows indecision. Maybe today’s jobs report gives us a multi-day catalyst.
(click the chart for a full view)
Technical Analysis | Charts of Interest
COST gap lower out of a trading range, and now below the 200 sma on the daily chart. The ultimate profit target for a sell-short is $132.
(click the chart for a full view)
Stocks to Trade 2-5-16
Short-Term Trading Momentum:
Positive the last 20 and 5 trading days | closed 2% higher from the open: XON, FAST, TDC, CMI, NEM, PCAR, DE, SAVE, ALL, RRC, ETN, OKE, CERN, FOSL, AR, M
Negative last 20 and 5 trading days | closed 2% lower from the open: cxo, hd, lly, eog, tap, cag, mrk, mdlz, lng, hbi, atvi, nke, lnc, met, scty, mpc, jwn, cop, kss
Quarterly Order Flow:
Bullish Stocks to Trade: FAST, XOM>80.50, MMM, KORS, JNJ, LULU, FL, MCD, NEE, FB, DG
Bearish Stocks to Trade: kss, cop, jwn, mpc, scty, lnc, tgt, lng, lly, cost, agn, nflx, esrx, mplx, rcl, ccl, pru, gild, wba, tso, low, mck, c, tsla, ba, tif, hfc, nov, baba, celg,
20 Day Breakdown: kss, mpc, met, lnc, atvi, lng, mdlz, mrk, cost, ea, gm
20 Day Breakout: XON, FAST, TDC, RIO, CMI, BBL, NEM, CAT, AEM, ALL, ETN, MMC, EMR, MAT, PSX, UPS, CMCSA, HON
2x Normal Volume: COP, KSS, MPC, NOV, YUM, STX, FAST, VIAB, NXPI, HES, GRUB, MON, ABC, RCL, MCHP, LVLT, CMI, COST, GOOGL, MPLX, HP, EQT, LNC
Inside days: msft, baba, vz, nflx, ebay, ko, aig, jnj, pypl, vlo, low, pg, bxlt, jblu, ip, kors, avgo, dhi, mdt, coh, mplx, abt, cvs, swks, acn, tmus, pru, cl, aet
— Mark (@TMTechnicals) February 5, 2016