Market Musings 10/1/2024
Quick thoughts on the markets and major portfolio news. Not on Ursa yet? Download Ursa from the App Store!
Will weak jobs sink markets again?
Weak job reports sank markets the last two months. Will we see a repeat in October?
While recovering, markets started both August and September down on #LaborMarkets concerns.
In August, the prior June jobs estimate was revised significantly lower with July’s even lower than that causing markets to tank starting August lower before recovering.
Then, deja vu.
In September, the new August estimate missed again… with markets sinking yet again.
So, we’re about to start October with new jobs data again this Friday.
Markets are expecting jobs to improve to 150K up from August’s 142K.
Markets also expect unemployment to remain flat at 4.2%.
While very optimistic since #RateCuts, there’s still some hesitation on whether a #Goldilocks soft landing may be too good to be true due to weakening #LaborMarkets.
Investors hope to see an improving jobs market to get more confident that we’ll be able to avoid a #Recession.
A beat likely keeps the market rallying, but a miss could see markets plummet again.
Hopefully, third time’s the charm, right? We’ll see on Friday!
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The statements, opinions and analyses presented here are provided as general information. This article is the opinion of the author. Anything within this article should NOT be considered an investment recommendation or advice. See Ursa’s full disclosures here.
Original Photo by Pixabay.