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Stocks still headed for opening gains after mostly inline jobs print

Published 01/05/2018, 08:40 AM
Updated 01/05/2018, 08:40 AM
© Reuters.  Stocks still headed for opening gains after mostly inline jobs print
  • The economy added 148K jobs in December. That's shy of the 185K expected, but November's 228K gain was revised up to 252K. We'll call it the most minor of misses.
  • The unemployment rate held steady as expected at 4.1%. Labor force participation was flat at 62.7%. That's also flat from a year ago, but down from 63% in September. The broad U-6 unemployment rate ticked higher to 8.1%.
  • Average weekly hours was steady as expected at 34.5 hours. Average hourly earnings grew an inline 0.3% for the month, and 2.5% Y/Y.
  • Rates, gold, and the dollar are showing little reaction to the mostly status quo print. TLT +0.1%, GLD -0.1%, UUP flat premarket
  • Stock index futures continue to point to decent gains: QQQ +0.6%, SPY +0.35%
  • Previously: Dec. jobs come in light at 148K (Jan. 5)
  • Now read: GLD: Expectations For 2018


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