September, 2019, Jobs Report -- Unemployment Rate Lowest In Half A Century

Updates

Later, 10:31 a.m. CT: Yahoo!Finance appears to suggest that AAPL's all-time high was somewhere between $227 and $228/share (corrected for splits). If so, AAPL is practically there, trading now, just shy of $226. The Dow is up 213 points. 

Later, 10:02 a.m. CT: we added a third line to our Sprint account. We are incredibly impressed with the iPhone 11. This is what analysts missed with regard to the iPhone 11:

• price went down, not up, over previous version; unprecedented? who knows, but certainly unexpected
• camera is a bigger deal than many analysts realize; even I'm beginning to think the camera  is a big, big deal
• most important: the previous version did not sell well; huge, huge pent-up demand for new phone -- this is what will really drive iPhone 11 sales
• in addition, competition is so great, add-ons / incentives by carriers will bring consumers into show-rooms; comparing the iPhone 8, Xr, 11 -- a no-brainer
• Hulu 
• upgrades
• this is the most excited I've been about an Apple iPhone in a  long, long time

Later, 10:01 a.m. CT:

Later, 9:58 a.m. CT:

Original Post

Graphics:

Mainstream media will underplay the report, but this is huge.

By the way, with record number of Americans working, the page of job growth obviously has to slow. From where will all the workers come? I know Joe Biden has a plan to add 720 million more women to the workforce. And, yet, no wage inflation. Modern economic theory seems to be going the way of Hubbert's theory. Or global warming. LOL. Obviously just tongue-in-cheek.

Market? Dow up 172 points. What's not to like.

Link here.

Numbers:

• nonfarm payrolls: 136,000 vs. +145,000 expected and +168,000 in August
• unemployment rate: 3.5% vs. 3.7% expected (absolutely outstanding) and 3.7% in August
• average hourly earnings MoM: +0.00% vs. +0.2% expected (wage inflation? hardly) and +0.4% in August
• average hourly earnings YoY: +2.9% vs. +3.2% expected (wage inflation? hardly) and +3.2% in August
• Friday’s jobs report also saw:
• August’s payroll additions upwardly revised to 168,000, from the 130,000 previously reported; and,
• July’s job gains were revised up by 7,000 to 166,000
• combined with September’s print, the new three-month average for job gains was just under 157,000, versus about 189,000 during the same three months of 2018
• wage gains missed expectations on both a monthly and annual basis, remaining flat between August and September
• over last year, average hourly earnings rose just 2.9%, marking the slowest pace of increases since July 2018
• Full employment by any measure and no wage inflation.

My hunch there will be much written about this job report between now and the next presidential tweet.

Recession right around the corner.

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Two bellwethers:

• F: down 2 cents in early trading
• AAPL: on a tear -- up almost 2%; up almost $4.07; trading at $224.91
• but get this: from a technical analysis, to which I never pay attention (wink, wink), the "buy point" for AAPL is $125 -- if AAPL hits $125, the computer algorithms are pre-wired to "BUY"
• was it JP Morgan that set AAPL target at $285 or some such number?

I can't resist. One more.

• TSLA: drops below support level at $230; down almost 2% in early morning trading; down about $4.00/share