Good morning. The
jobs report came in above expectations with
94,000 jobs and a reading of
4.7% unemployment with upward revisions of prior months. So far the reaction in premarket futures is a positive one although it does put in a large Fed rate cut next week in jeopardy.
Premarket gainers: IMAX, SPWR, ICOC, SNPS, LQDT, SIRO, JBL, PZZA, HANS, GOT, FXP, HOKU, PBR, FRO, ACTL, GEOY, WYNN, ALGN, CSIQ, CPSL, CHNR, PCU, SOLF, INFY, DRYS, and RIMM.
Premarket losers: SWHC, PALM, MVSN, GPOR, GIL, GMTN, EXFO, CTEL, FMD, VMED, ACTG, CHL, GMST, FXI, COF, and JADE.
Today’s trade will have everything to do with the employment situation and the upcoming Fed even though we have a report on consumer sentiment at 10:AM.
Admittedly, I am surprised to see the premarket futures rally after this news and I’m skeptical of seeing a lot of strength following the jobs report. We’ll soon see if my doubts are justified by the market’s performance. Have a great Friday!
