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Jobs Report, Consumer Credit, Stimulus: 3 Things to Watch

Stock MarketsFeb 04, 2021 04:14PM ET
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© Reuters.

By Liz Moyer

Investing.com -- Stocks rose for a third day on Thursday as lawmakers moved ahead on President Joe Biden’s stimulus plan.

Improving economic data lifted Wall Street’s bullish mood after better than expected numbers on jobless claims. First-time claims fell last week and were lower than estimates.

That sets up expectations for Friday’s critical nonfarm jobs report from the government, always a barometer of economic health. The good news and a speedier rollout of Covid-19 vaccines, helped push bond yields higher, with the difference between short and long-term Treasury yields at their widest in five years.

Banks benefited, because higher yields allows them to make more money off loan products. But the technology sector also notched gains after PayPal and eBay (NASDAQ:EBAY) had positive earnings surprises. 

So-called meme stocks like GameStop (NYSE:GME) and AMC Entertainment (NYSE:AMC) fell as the Robinhood crowd’s short squeeze from last month petered out.

Here are three things that could affect markets tomorrow:

1. January’s Nonfarm payroll report

Has the economy improved since December? There’s reason for optimism, according to the estimate for Friday’s nonfarm jobs report from the government. 

The Bureau of Labor Statistics will release numbers at 8:30 AM ET (1230 GMT). Analysts are expecting 50,000 jobs were added last month after dropping 140,000 in December. 

2. A reading on consumer credit

The consumer credit reading for December will be released at  3:00 PM ET and is expected to be $12 billion, down from $15.7 billion in November. That dip might be in line with the jobs report, which showed attrition in employment going into the holiday season.

The November report was a positive surprise as consumers continued to tap sources of credit like auto and student loans, but not their credit cards. 

3. Biden’s $1.9 trillion stimulus

Looks like Democrats are ditching the bi-partisan spirit and forging ahead with their $1.9 trillion stimulus package. Investors don’t hate the idea, as the stock market has shown gains this week while lawmakers maneuver on Capitol Hill.

 

Jobs Report, Consumer Credit, Stimulus: 3 Things to Watch
 

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Comments (6)
Jay West
Jay West Feb 04, 2021 8:22PM ET
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Lol. GME and AMC “petered out.” What a great choice of words. Genuine description of the kids who fell for the squeeze scam of the decade. Feel sorry for them, sort of.
Shawn Garza
Shawn Garza Feb 04, 2021 8:22PM ET
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Not even a scam imo. Anyone with a lick of financial mind could see those stocks tanking. I don't feel sorry for them. People gotta realize someone would end up holding the bag.
Kyle Mack
Kyle Mack Feb 04, 2021 7:34PM ET
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Just like summer 2020 artificially pumped market. when they pull youll lose
Jay West
Jay West Feb 04, 2021 7:34PM ET
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Trade it properly and bring home the bacon.
Francesco Lucchesi
Francesco Lucchesi Feb 04, 2021 7:19PM ET
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it doesn't matter what comes out, good or bad news stocks always up. please stop writing rubbbbish
Jay Dean
Jay Dean Feb 04, 2021 6:39PM ET
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the stock market and the news are manufactured
Jay West
Jay West Feb 04, 2021 6:39PM ET
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Without a doubt. Nothing to see here. Keep it movin.
Arun Amalu
Arun Amalu Feb 04, 2021 6:39PM ET
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Exactly
Michael Garrett
Michael Garrett Feb 04, 2021 6:31PM ET
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regardless of the data that comes out, or the headlines you bums and all other media outlets put out, markets will continue to gap up every day and night
Casador Del Oso
Casador Del Oso Feb 04, 2021 5:22PM ET
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With all this great economic and stock market news, why do we need more stimulus?
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Kay Miller
Kay Miller Feb 04, 2021 5:22PM ET
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As a riff raff member if you don't start directing help our way we may just opt out. Nothing says ****stock numbers than no sales.
Ridha B younes
Ridha B younes Feb 04, 2021 5:22PM ET
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stock markets is sponsored by brando (brando got electrolite)
Stephen Burgess
Stephen Burgess Feb 04, 2021 5:22PM ET
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Many people and business need a rescue which is what the plan is called. The government also does need a provide an economic stimulus as the numbers you just read are qualified by the pandemic. Without the pandemic those economic indicators would be much, much better. You may not need a rescue, and your city, county and/or state may not need fiscal support to secure necessary jobs and support vaccine distribution but, many do.
Tai Banh
Tai Banh Feb 04, 2021 5:22PM ET
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Dump question
Brian Ray
Brian Ray Feb 04, 2021 5:22PM ET
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Businesses would love to rip that "Mask Required" sign off their windows, just like companies would love to tell them government to take their "no discrimination" policies and shove them. Many people see through this societal sham and know we're being played. When's the list time someone had the flu?
 
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