Stocks are mostly flat on Friday following a volatile week and negative jobs report. Indicators continue to point to higher prices. So let’s go over the top three sectors to trade and this past week’s market news — and more in Friday’s stock market recap.
Stock Market Recap
In Friday’s stock market recap, jobs data, indicators, what to look forward to next week and the top sectors to trade right now.
Friday’s jobs report showed considerably slowed growth in September. The unemployment rate, however, fell to 4.8%.
The ADP National Employment report, which usually gives us a preview of what the overall jobs situation is, was positive. But investors were surprised when the Employment Situation Summary was released by the Bureau of Labor Statistics on Friday because overall jobs data significantly missed expectations. This was likely due to low government payroll figures.
Jobs data is a critical part of the Federal Reserve’s timeline to taper bonds and raise interest rates. So Keep your eye on the bond market and remember, strong jobs data is negative and weak jobs data is positive for bonds.
Roger’s Radar: The Top Sectors to Trade Right Now
The Consumer Discretionary Select Sector SPDR Fund (NYSEArca: XLY) tracks stocks in the S&P 500’s Consumer Discretionary Sector. It’s the most speculative sector and appears to be moving higher.
The video below also includes two other sectors to choose stocks from in today’s environment. I’ll even show you an ETF that I’m keeping my eye on.
In this video, you’ll discover why small caps are at key levels… how to play the bond market in the short term… an update on crucial momentum levels… the strongest ETF with pullback price levels… and the best stock and option in that sector right now.
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