trade higher around 80% of the time in these months, and each index logged an average monthly gain of more than 2%.were 1.6% and 3% below their respective all-time highs."It seems like the tone on trade has gotten better," Art Hogan, chief market strategist at National Securities, told CNBC on Monday. "That's the biggest driver.
Paul Ashworth, chief U.S. economist at Capital Economics, told CNBC that aside from the weak headline number, "the rest of the employment report was actually quite positive." Wage gains were a bright spot, exceeding expectations, with average hourly earnings increasing by 0.4% for the month and 3.2% over the year; both numbers one-tenth of a percentage point better than expected.
Expectations of above 90% that the Federal Reserve will cut interest rates when it next meets mid-month are also baked into the market.at an event in Zurich on Friday. "Maybe it's a good enough number for [Fed Chair Jerome] Powell to take action. It's a good enough number to be able to say we're not going into recession, but let's not go into recession,""The Fed is locked into cutting in September," Jason Furman, former Council of Economic Advisors chair, said on Friday. "It would be disruptive and contractionary for them to not do it. I don't see anything in today's data that calls for more cuts past September.
Observing the unemploym. rate is like looking into the past and then saying the future looks great. Companies grow and then need workers, only when they shrink do they cut jobs again. So this is all time-delayed and only an indicator that something has been done right in the past
Where do get this bs from? Is it coming direct from Kudlow and the other chimps in the White house? Kudlow the same man in Dec 6 2007 who said :
As millions of retirees go back to work.
Sure - many people have 2 and 3 jobs to support their family.