Stocks Higher After Jobs Report

First Look

Markets are pointed higher ahead of the open Friday. Federal Reserve Chairman Jerome Powell will be speaking today at 12:30 p.m. ET to provide updates on monetary policy. Investors will be looking for hints on the Fed’s current stance and the possibility of future interest rate cuts. Analysts are expecting a rate reduction in September, but policymakers are split on how much of a rate cut is needed, or if any cut is needed at all. The economy added 130,000 non-farm jobs in August, falling well short of the 171,000 estimates. The unemployment rate remained unchanged at 3.7%, while wages rose 0.4%, beating expectations for 0.2%. The Dow Jones is up 0.41%, the S&P 500 is up 0.4%, the Nasdaq is up 0.32%.

Today's market outlook is Neutral

Speed is often confused with insight. When I start running earlier than the others, I appear faster.
Johnn Cruyff

Stocks on the Move

Apartment Investment and Management Co (AIV), Align Technology, Inc. (ALGN) and Hanesbrands Inc. (HBI) are moving higher this morning, while Marathon Oil Corporation (MRO), Newmont Goldcorp Corp (NEM) and Alexion Pharmaceuticals, Inc. (ALXN) are headed lower. Reliance Steel & Aluminum Co (RS), Navistar International Corp (NAV) and HCA Healthcare Inc (HCA) were upgraded by analysts this morning, while Telenav Inc (TNAV), Conagra Brands Inc (CAG) and Bank of America Corp (BAC) were downgraded.

International Markets

Stocks in Asia are up. The Mumbai Sensex is up 0.92%, the Nikkei 225 is up 0.54%, the Australia ASX All Ordinaries is up 0.47% the Shanghai SE Composite Index is up 0.46% and the Hang Seng is up 0.43%. In Europe stocks are mixed. The DAX is up 0.58%, the CAC 40 is up 0.11%, the FTSE 100 is down -0.05% and the Euro Stoxx 50 is down -0.06%.

Futures and Currencies

Energy futures are down today. The price for West Texas Intermediate crude oil is down -0.85 at 55.45 per barrel. Brent crude is down -0.1 at 59.95 per barrel. Natural Gas is down -0.01 at 2.42. Precious metals are down this morning. Gold is down -13.62 at 1505.43 per ounce. Platinum is down -30.08 at 29.98 while silver is down -0.56 at 18.25. The dollar is up compared to the major currencies today. The greenback is up against the euro, up against the Yen and up against the Pound.

Put/Call Ratio

Yesterday, 1,202,776 call contracts traded on the Chicago Board Options Exchange (CBOE) compared to 641,162 put contracts. The single-session put/call was 0.53 while the 20-day moving average is now at 0.69.

Earnings Expected Today

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  • Last Price:
    $301.07
  • Previous Close:
    $301.10
  • Day's Range:
    $300.71 - $302.63
  • 52-week Range:
    $302.46 - $233.76
  • Last Price:
    $271.42
  • Previous Close:
    $271.97
  • Day's Range:
    $271.13 - $273.20
  • 52-week Range:
    $273.99 - $216.97
  • Last Price:
    $192.84
  • Previous Close:
    $192.52
  • Day's Range:
    $192.47 - $194.04
  • 52-week Range:
    $195.55 - $143.46

Today's Economic Calendar

What's Happening Period Release Time
Nonfarm Payrolls Aug 08:30
Avg. Hourly Earnings Aug 08:30
Unemployment Rate Aug 08:30
Average Workweek Aug 08:30

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