Was the Jobs Report an “All Clear” for Markets?
What’s in Today’s Report:
- Was the Jobs Report An “All Clear” for Markets?
- Is a “V” Shaped Recovery Happening?
- Weekly Market Preview: Fed Meeting Wednesday
- Weekly Economic Cheat Sheet: Jobless Claims Remain the Key Report
Futures are modestly higher thanks to momentum as markets extend Friday’s rally following a quiet weekend.
Economic data was mixed overnight as Chinese exports were better than expected (-3.3% vs. (E) -6.5%) while German Industrial Production missed estimates (-17.9% vs. (E ) -16.2%). But, neither number was bad enough to turn the bullish momentum.
Protests continued across the U.S. and were mostly peaceful, but this remains largely a non-issue for markets.
Today there are no economic reports and no Fed speakers so re-opening headlines and virus trends will drive trading, and as long as there isn’t any materially negative news on either front, the bulls will likely remain in charge.