Jobs Report: What to Watch For
At 8:30 a.m. Eastern time, the Labor Department will report the figures on hiring and unemployment in February.
After job gains of 227,000 in January, analysts are expecting another strong showing, with hires topping 200,000. Although monthly reports from the private payroll processing firm ADP often do not correspond to the Labor Department’s figures, ADP’s unusually robust report of 298,000 jobs on Wednesday led several economists to increase their initial estimates.
The unemployment rate is expected to dip back down to 4.7 percent.
Wall Street stocks hint at a stronger open as investors ready for jobs data
U.S. stock futures were pointing to a bounce higher at the market open Friday, ahead of the closely watched monthly jobs report that could further cement expectations for an interest-rate increase soon.
The nonfarm payrolls report for February — the first such jobs report under the administration of U.S. President Donald Trump — is due at 8:30 a.m. Eastern Time. Economists polled by MarketWatch expect a 221,000 increase in jobs, against a gain of 227,000 in January.
Big jobs report today: 4 things to know
The U.S. economy gets a major gut check on Friday.
The Labor Department publishes the February jobs report at 8:30 a.m. ET. Here are 4 things to know before it comes out.
1. It will capture the first full month of job growth under President Trump: Trump was president for only 11 days in January. So Friday’s report is the first he gets to fully own. And it will be the earliest reading of his progress toward his bold campaign promise to create 25 million new jobs over the next 10 years.
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On the Tape Today | 3-10-17
KHC | Kraft Heinz continues to get added to the daily game plan. Each day the stock price consolidates, the more we can expect an explosion in volatility. Looking for the 7 day consolidation to trigger a $92 buy-stop and a new swing trade with a target to sell @ $96.50. Stop loss on a close below $91.
DKS | Dicks Sporting Goods took a hit on earnings despite mostly positive numbers. Can't find the order flow and the momentum-both are bearish. After two days of consolidation, looking for a $47.75 sell-stop to trigger a new short sale. Intending to hold for a swing trade with a target of $40.50. Stop loss if filled on a close above $49.
Tape Reading the SPY ETF
$SPY reversal and increase in volume (85 million) implies a short-term bottom ahead of today’s jobs report.
If you traded smart, today becomes the day to push your share size and hold longer. Should the jobs number (8:30am) be interpreted as positive, and the premarket reaction is supported by bids into the open, look for a trend day.
These types of if-then scenarios must become part of your game planning or you will forever believe every trade looks the same.
if every trade looks the same you will never know when to stay in cash, when to trade for cash flow and when to build and hold positions. Yesterday, leading into today, AND the previous six day decline— ALL combine for today’s game plan.
If the bid doesn’t look positive after the first 30 minutes of trading you are back into cash flow mode, unless the stock market trades above the open price.
Make your game plan definite, but be flexible in your bias based on the price action. Let the market unfold, but know what you are definitely going to do.
Stock Market Today: Heatmap of the S&P 500
Stocks to Trade 3-10-17 | Friday Edition
Short-Term Trading Momentum
Bullish Momentum: AKAO THC
Bearish Momentum: aal, aig, wdc
Quarterly Order Flow
Bullish Stocks to Trade: CELG, INCY, BIVV, AVGO, AMGN, AET, SWKS, FB, HD, AMT, RH, BA, MOMO
Bearish Stocks to Trade: gild, lb, mnk, nem, eqt, trip, psx, urbn, dvn, prgo, kors, sm, tgt, oxy, slb, xom, rrc, clr
2x Normal Volume: MOMO, DVN, APA, SM, DISH
Inside days: bac, c, wfc, jpm, ms, mrk, teva, nem, hrb, jd, baba, m, adm, coh, bby, cern, jnpr, amtd, jwn, dltr, tsn
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