JOBS REPORT ISN’T GREAT NEWS FOR STOCK INVESTORS $QQQ $SPY $DJIA $AMD $AAPL $MU $INTC $NVDA $AMZN $GOOG $MSFT $GOOGL
Prudent investors ought to pay attention to the weakness in what’s widely considered a strong September jobs report released Friday. Let’s explore the issue with the help of a chart.
Please click here for an annotated chart of S&P 500 ETF SPY.
Note the following:
• The chart shows initial positive reaction in the stock market to the jobs report.
• The jobs report has a strong headline: The unemployment rate fell to 3.5% vs. 3.7% consensus.
• Digging beneath the surface, there is significant weakness.
• Non-farm private payrolls came in at 114,000 vs. 120,000 consensus.
• Non-farm payrolls came in at 136,000 vs.… Please click here or the title below to read more.
October 4, 2019