Posted in Daily Report
By: Tom Gentile on October 6th, 2022 • 2 mins read
Tomorrow, Friday October 7 we get the US Non-Farm Payroll numbers, aka the ‘Jobs Report’.
Investors are eagerly awaiting this announcement as it will help ascertain what the Fed’s future course of action will be regarding interest rates.
Here is some data that has come out thus far this week. Wednesday there was data from ADP showing the labor market was still strong among private companies for the month of September. The data showed businesses added 208,000 jobs. That number was a beat of what Wall Street was expecting.
Today, jobless claims were higher than expected, which could be a signal there could be some labor market weakness.
If the jobs landscape is one where things are reported low for September, there is expectations of wage growth are they will remain the same, which may keep the Fed from making a pivot on their interest rate stance.
Market Sector Outlook going into Tomorrow’s Jobs Report
Taking a quick look at the markets today, we see things are mostly trading down, which for the week shows things are in a stall as equities haven’t taken back any of the gains to start the week, (Monday and Tuesdays pop).
The sector leading things in a bullish fashion is the Energy/oil sector.
USO, which is the ETF I track and use to analyze this corner of the market is trading higher on the day while other corners/sectors are not.
If you are looking for a market that is holding up and may continue to do so as you are more comfortable in looking to trade options in a bullish fashion versus bearish, securities that make up the XLE may be at least a starting point.
App: Toms Option Tools
Market Insight articles may show images of lists of stocks meeting a variety of options parameters like Unusual Call and or Put activity or Expensive IV found on my app Toms Option Tools.
Other times I will have other charts may work to amplify my educational points.
Those options data lists, however, can be found on my app Tom’s Option Tools. Use your device to search up and download this app and get free access to the Morning Reports section of the app.
Other parts of the app are available at a premium subscription rate, but the Morning Reports Lists are yours free.