Off your game?
Read our free, updated as of Mar 3, 2022, Dr K report on how to optimize your mind and body so you can boost your focus when trading the markets.
Meet Dr K !
Chris Kacher
  • Nuclear physicist
  • Stock & crypto market wizard
  • Blockchain builder
  • Bestselling author
  • Top 40 charted musician
  • Biohacker
  • Former computer hacker
Your email will always remain private.

Market Lab Report - Premarket Pulse 12/2/16

Major averages fell yesterday on mixed, above average volume with higher volume on the NASDAQ which closed just below its 50-day moving average. After being up 15 days in a row, the Russell 2000 fell for the fourth day in a row. A notable divergence continues to take place as the Dow Industrials and financials were both up on the day.

November non-farm payrolls came in at 178,000, under consensus of 200,000. The prior month's reading was revised to 142,000 from 161,000. Nonfarm private payrolls added 156,000, below expectations of 170,000. The unemployment rate fell to a nine-year low of 4.6%, below the estimated 4.9%.

In another positive sign for economic growth, a broader measure of unemployment fell to 9.3% from 9.5%. This measure is the so-called U-6 rate that includes part-timers who can’t find a full-time position and those who have recently given up looking for work.

That said, skepticism abounds with regard to the accuracy of the data since such government statistics have been called into question. As a consequence, some analysts put the unemployment rate much higher than even what is reported by the U-6.

Nevertheless, the Federal Reserve is now all but certain to raise interest rates later this month and may have to move rates higher at a faster pace than markets now expect.

The market's reaction was initially mixed but is now rallying, placing futures almost at breakeven after being down. On the one hand, a strong jobs report is a sign the economy has turned the corner. On the other hand, it is a sign interest rate hikes may come faster after the Fed hikes in December.

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. ©2024 MoKa Investors, LLC DBA Virtue of Selfish Investing. All rights reserved.
Copyright ©2024 MoKa Investors, LLC DBA Virtue of Selfish Investing.
All Rights Reserved.
privacy policy