Why Did Stocks Rally After the Jobs Report?
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What’s in Today’s Report:
- Why Did Stocks Rally After the Jobs Report?
- What to Make of This Market (Updated Near and Medium-Term Outlook)
- Weekly Economic Cheat Sheet: Inflation in Focus This Week (CPI Thursday is Very Important)
- Weekly Market Preview: Will Rising Oil Prices Become Another Headwind?
Futures are moderately lower on rising geo-political tensions following the Hamas attack on Israel over the weekend.
The human tragedy and geo-political implications aside, from a market standpoint the attack matters because rising geo-political tensions mean higher oil prices (up 3% currently) and the higher oil goes, the stronger the additional headwind on stocks and bonds.
Today there are no notable economic reports but there are several Fed speakers, including Logan, Barr, and Jefferson, although they shouldn’t move markets. So, oil will likely be the driver of asset prices today and the higher oil goes, the stronger the headwind on stocks.
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