Markets Going Nowhere Ahead Of Huge Jobs Report
Good morning! Happy Jobs Day.
Today at 8:30 AM we get the Non-Farm Payrolls report for January.
A full preview of the report is here, but the short version is that analysts are expecting 180,000 new jobs and for the unemployment rate to stay unchanged at 6.7%.
In the meantime, markets aren't doing anything in Europe or the US really. Japan had a big night, rallying 2%. It seems that, for the moment, the selling we've seen of late has calmed down.
Of course, today's jobs report has the potential to upset any balance in a number of ways. A strong number could get people talking again about the Fed tightening. And a weak number could play into the new meme that once again, the economy is failing to achieve breakout speed.
We'll know soon!