And that, folks, is the week.
Don’t worry, December is still in play.
“Numbers have more and more immediate effect with little lasting impact.”
Well, there’s not a lot going on in the week ahead and by that I mean there’s so much going on that you couldn’t plan for it even if you wanted to.
Donald Trump has spent even more time than usual tweeting on Saturday.
Bad news for stocks?
U.S. Sept. Nonfarm Payrolls Fell 33k
Avg. hourly earnings 0.5% m/m, est. 0.3%, prior 0.2%
“Still, like it or not, traders will scream about, and trade on, misses or beats of statistically meaningless amounts to a number whose meaning will only be really known in hindsight.”
“Well, that’s nothing to be proud of, Rusty…. 50 yaaaards.”
Ok, it’s time for everyone to try and read the tea leaves from the August jobs report, although honestly, this seems like one of those cases where most of what you need to know is in the headline prints. Now that doesn’t mean there aren’t some juicy nuggets (not the McDonald’s ones Trump likes) buried…
You want a reason to be dovish, you’ve got one now.
Well, it’s jobs day and there are a couple of ways you can approach the August print.
Ok, so the overarching narrative for this week shouldn’t be materially different from last week – people will be concerned about the same things, namely the looming debt ceiling debate, the odds of a government shutdown which ebb and flow with whatever shows up on Trump’s Twitter feed, and the fallout from North Korea’s latest…
“The greatest jobs President that God ever created.”
“…and I have only just begun.”