Afternoon Note
By Charles Payne, CEO & Principal Analyst
2/1/2019 1:38 PM
The January jobs report was released this morning.
- 304,000 jobs created
- 296,000 in the Private Sector
US Monthly Jobs Report
Highlights
Wages were above 3.0% for the fourth consecutive month powered by non-supervisory worker gains.
Participation
Participation is at a five year high with working age women at highest level in almost 16 years.
The market loved the jobs report, but the major indices surged even more on manufacturing data that erased the concerns from last month. Remember, the last ISM manufacturing report released on January 3 sent the Dow plunging 660 points.
Highlights
- New Orders 58.2 +6.9 percentage points
- Production 60.5 +6.4 percentage points
ISM Manufacturing
Markets Higher but Still Needs Nudging
The market is mostly spinning its wheels holding onto gains for the Dow and S&P. Energy is leading the way as Exxon Mobile (XOM) crushed earnings consensus and Chevron (CVX) pumping record 2.9 million barrels of oil a day.
|
S&P 500 Index |
+0.11% |
|
Communication Services (XLC) |
-0.05% |
|
Consumer Discretionary (XLY) |
-1.18% |
|
Consumer Staples (XLP) |
-0.61% |
|
Energy (XLE) |
+2.02% |
|
Financials (XLF) |
+0.54% |
|
Health Care (XLV) |
+0.02% |
|
Industrials (XLI) |
+0.28% |
|
Materials (XLB) |
+0.28% |
|
Real Estate (XLRE) |
-1.47% |
|
Technology (XLK) |
+0.68% |
|
Utilities (XLU) |
-0.97% |
The market is right there at the top of its resistance range, which means we are going to see a massive leg higher after a short pause or a meaningful pullback; although, it is unlikely to retest the Christmas Eve low.
| Comments |
| I am in school working on my MSIT (SP 2019). I incorporated as Integrated Technical Alternatives, Inc three years ago to set a goal. And now planning on doing CyberSecurity reviews with a tool I developed. As a man 66 years old, I do not want to take new opportunities from the younger folks by working somewhere they might be able to. I hope to expand over time so I can hire some of them instead. Thanks for the new job stats. The economy is encouraging. William P. Haggerty on 2/1/2019 2:11:28 PM |
| Great jobs result for the month, isn't it telling though, the government still managed to add jobs during a so called horrible/ life altering shut down. We could maybe benefit from another shut down at least to slow the growth of the DC swamp. James G Park on 2/1/2019 2:13:23 PM |
| Tweet |
Log In To Add Your Comment
| 7/15/2025 1:35 PM | Semis Rise & Banks Slide |
| 7/15/2025 10:13 AM | THE CURIOUS CASE |
| 7/14/2025 1:32 PM | Decisive Week |
| 7/14/2025 9:32 AM | GET READY! |
| 7/11/2025 1:45 PM | Facing Pressure |
| 7/11/2025 9:48 AM | CLEAR FOR TAKEOFF |
| 7/10/2025 1:53 PM | Small Caps Rally |
| 7/10/2025 9:56 AM | ENOUGH ZEN TO SHARE |
| 7/9/2025 1:32 PM | NVDA New Milestone |
| 7/9/2025 9:46 AM | PASSING THE BATON |
| 7/8/2025 1:33 PM | Seesaw Session |
| 7/8/2025 9:55 AM | MORE SUMMER BLAHS THAN FEAR OF MYANMAR'S TARIFF |
| 7/7/2025 1:27 PM | Trade Talks and Profit Taking |
| 7/7/2025 9:51 AM | LOVING MOOD |
| 7/3/2025 9:45 AM | NICE & STEADY AS SEMIS CONTINUE TO CHIP IN |
| 7/2/2025 1:44 PM | Materials' Strength Continues |
| 7/2/2025 9:38 AM | BARNBURNER |
| 7/1/2025 1:29 PM | Rotation |
| 7/1/2025 9:45 AM | FEAR OF MISSING OUT IS CREEPING IN |
| 6/30/2025 1:24 PM | Steady As She Goes |
| 6/30/2025 9:54 AM | SUMMER RALLY STARTS |
| 6/27/2025 1:35 PM | Reaching New Heights |
| 6/27/2025 9:39 AM | THERE'S MORE! |
| 6/26/2025 1:10 PM | S&P Approaches Record |
| 6/26/2025 9:51 AM | CHIPS MOMENTUM CONTINUES |
| More commentary archives | |
|
Home |
Products & Services |
Education |
In The Media |
Help |
About Us |
Disclaimer | Privacy Policy | Terms of Use | All Rights Reserved.
|