Market Alert - Pre-Market

Futures vs FV: SP -5.50; DJ -34.67; NASDAQ -29.10

Futures started lower, recovered to just positive on the jobs report, have backed off a bit heading to the open. A big reversal Thursday has no motor to start Friday.

Jobs: 155K vs 189K exp vs 237K prior (from 250K).
3-month: 170K/month

Unemployment 3.7%

Wages: 0.2% vs 0.3% exp vs 0.2 prior. Year/year 3.1%

Workweek: 34.4 vs 34.5 expected vs 3.5 prior. Never good to see the workweek, that would not rise at all, give back its modest gain.

Temporary: +8K
Healthcare +32K
Manufacturing +27K
Transportation +25K
Retail +18K
Down: Info/Tech, Leisure/Hospitality, Government

Participation rate: 62.9% vs 62.9%


Oil: OPEC agrees to cut 1.2M bbl/day. Oil jumps over 4%


Earnings beats: LULU; AVGO; ZUMZ (BL)

Misses: BIG (BL); MTN (TL, BL)

In line: ULTA


OTHER MARKETS
Bonds: 2.897% vs 2.892%

EUR/USD: 1.138 VS 1.1376

USD/JPY: 112.79 vs 112.71

Oil: 53.86, +2.37

Gold: 1248.90, +5.30


Futures peaked a half hour back after a post-jobs report recovery. Lower open after a sharp reversal from low to high. Perhaps the bids will return -- we expect a rebound in the trading range given the sharp reaction to a test of the bottom of the range Thursday.
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Jon Johnson, Chief Market Strategist
InvestmentHouse.com

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