Market Lab Report - Premarket Pulse 4/1/16
Major averages finished yesterday mixed on higher volume, closing near the lower end of their trading ranges ahead of today's employment report.
The report came in stronger than expected and showed that nonfarm payrolls increased by 215,000, compared to the 200,000 consensus. Average hourly earnings increased 0.3% matching consensus while the unemployment rate ticked up to 5.0% from 4.9%.
The market is lower following the report which shows progress towards an eventual rate hike, though Fed Chair Yellen recently increased her focus from what's happening at home to what's happening globally. She admitted that global growth remains a big problem which today's report, while a sign of strength, does little to solve.
Healthcare content provider WebMD (WBMD) had a buyable gap up with an intraday low of 60.70 which would serve as a selling guide. Earnings and sales are accelerating, ROE 58.8%, group rank 58.
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