Financial stocks like that news (XLF +2%) and so does energy (+1.2%).
"Enough For Tapering To Start": Wall Street Reacts To A Blockbuster Jobs Report
https://www.zerohedge.com/markets/en...er-jobs-reportWith the jobs report coming in at just shy of 1 million jobs on the establishment survey (and just over 1 million on the Household survey), with strong job creation, a big drop in unemployment rate, higher employment-to-population, rising wages and hours worked, and favorable revisions, consensus - at least judging by the market reaction - is that we have entered the "substantial progress" phase, greenlighting a tapering signal by the Fed at the end of the month during the Jackson Hole symposium.
Tom
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I am not a Registered Investment Advisor and this is not investment advice. Please do your own due diligence.
Financial stocks like that news (XLF +2%) and so does energy (+1.2%).
The tech stocks didn't but I'm surprised small caps liked it (i.e. yields up to 1.3% so quickly). Russell was up, although the S-fund was down a little.
Also, XLE (energy) was up but it was actually an ugly day for oil.
Tom
Market Commentary | My Blog | TSP Talk Plus | |
I am not a Registered Investment Advisor and this is not investment advice. Please do your own due diligence.
I keep looking to get back in on the energy sector (sold out June 17), but they feel like a value trap here. Demand is there, but we have a glut of oil on Earth. Extraction is becoming more and more efficient as are vehicles. Most of these oil companies have serious debt and dividends they are afraid to cut. If/when oil prices move down in the low 60's it will put further pressure on these companies.
Bank of America chief strategist just came out today and said she's calling for S&P 3,800 by year end and favors value stocks - specifically energy and financials. I'm guessing that just means they won't fall as hard.
https://www.bloomberg.com/news/artic...lls-move-ahead
No mention of semiconductors breaking out from their 6 month trading range this week.
Not a bad idea:
Stock Market Sentiment Research - SentimenTrader
Tom
Market Commentary | My Blog | TSP Talk Plus | |
I am not a Registered Investment Advisor and this is not investment advice. Please do your own due diligence.
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