From The WSJ:
Holy mackerel: this is really, really incredible. I assume the mainstream media is still giving Obama the credit for the economy.
Jobs, link here, November jobs:
- nonfarm payrolls
- prior: 128,000
- consensus forecast: 180,000
- actual: 266,000
- private payrolls:
- prior: 131,000
- consensus forecast: 168,000
- actual: 254,000
- unemployment rate:
- prior: 3.6%
- consensus forecast: 3.6%
- actual:3.5%
- manufacturing payrolls:
- prior: -36,000
- consensus forecast: 15,000
- actual: 54,000
Futures: unchanged, down if anything.
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CNN: "Stocks pop on good jobs report." In fact, the Dow opening was a bit lower than the Dow futures just before and after the jobs report came out. And it was not a "good" report. It was a spectacular report.
Headwinds: every story, it seems, says the job market was incredible despite the headwinds. Exactly what headwinds? The only headwinds I know:
- TDS
- consistent and never-ending negativity from mainstream business media
Tailwinds?
- easy money;
- everyone is employed -- employed folks pay taxes and buy more stuff;
- US House not passing any more regulations;
- US is energy independent -- this is huge and is not being reported;
- gasoline is below $2.00 / gallon here in north Texas; people have more money to buy other stuff;
This morning:
MSM, in spite of everything we, the media, tell you, you still choose to believe what you see? Go figure
ReplyDeleteI normally don't watch CNBC business news, but today I was really curious how they would report this. Moments ago, some talking head said this was a continuation of Obama's programs and had nothing to do with Trump. Wow, Trump Derangement Syndrome.
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