We’re seeing some premarket selling ahead of the final trading day of the week, which is typical after the market makes a new high.
So expect some consolidation ahead.
We did get a wrinkle this morning in the form of the latest employment report, which sent stocks higher at 8:30 a.m. ET after unemployment rose to 3.9% versus estimates of 3.7%.
Nonfarm payrolls also were higher than expected, 275,000 versus expectations of 200,000.
Average hourly earnings also had a slightly smaller than expected increase.
The bond market, meanwhile, saw a spike in the two-year note, which showed it likes this employment data.
What does it all mean? I’ll cover all that in this morning’s “Premarket Must Watch” video, including the key levels to watch today and more!
Roger Scott
Roger Scott Trading
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P.S. 2 Longs, 2 Shorts to Trade Before the Weekend
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