X
Tired?
Unfocused?
Off your game?

Read our free Dr K report on how to optimize your mind and body so you can boost your focus when trading the markets.
YES, SEND ME THE REPORT !
NO, I'M NOT INTERESTED
Your email will always remain private.

Market Lab Report - After the Open 1/6/17

Published : January 6 2017 at 10:27 ET

Major averages finished mixed yesterday, close to the top of their trading ranges on lower volume. A number of Chinese stocks did well as there appears to be a close recent correlation between the US dollar/Chinese yuan and Chinese stocks that trade on the US exchanges. China has strengthened its yuan currency over the last two days which has resulted in a number of Chinese stocks that trade on US exchanges moving higher. With the yuan moving lower this morning, however, Chinese stocks are trading down.

December nonfarm payrolls came in at 156,000 vs. estimates of 175,000. The prior month's reading was revised to 204,000 from 178,000. Nonfarm private payrolls added 144,000 vs estimates of 170,000. The unemployment rate held at 4.7% matching consensus. Average hourly earnings increased 0.4% vs 0.3% est. This marked the largest increase since the Great Recession, reflecting a surge in employment over the past six years that’s left many companies complaining about a shortage of skilled labor.

This suggests the US Federal Reserve has more room to hike rates, underscoring their stance of three more rate hikes later this year. 

Markets had a minor rally on the news. 


This information is provided by MoKa Investors, LLC DBA Virtue of Selfish Investing (VoSI) is issued solely for informational purposes and does not constitute an offer to sell or a solicitation of an offer to buy securities. Information contained herein is based on sources which we believe to be reliable but is not guaranteed by us as being accurate and does not purport to be a complete statement or summary of available data. VoSI reports are intended to alert VoSI members to technical developments in certain securities that may or may not be actionable, only, and are not intended as recommendations. Past performance is not a guarantee, nor is it necessarily indicative, of future results. Opinions expressed herein are statements of our judgment as of the publication date and are subject to change without notice. Entities including but not limited to VoSI, its members, officers, directors, employees, customers, agents, and affiliates may have a position, long or short, in the securities referred to herein, and/or other related securities, and may increase or decrease such position or take a contra position. Additional information is available upon written request. This publication is for clients of Virtue of Selfish Investing. Reproduction without written permission is strictly prohibited and will be prosecuted to the full extent of the law. ©2017 MoKa Investors, LLC DBA Virtue of Selfish Investing. All rights reserved.