Market Alert - Pre-Market

Futures vs FV: SP +21.53; DJ +187.79; NASDQ +59.82

Futures were slightly lower heading into jobs, but received a 'goldilocks' report with job creation but not wage creation. All is well -- for the markets.

Non-Farm: 313K vs 210K vs 239K prior (from 200K)

Unemployment: 4.1% vs 4.0 ex vs 4.1% prior

Wages: 0.1% vs 0.2% ex vs 0.4% prior. Annual 2.6% vs 2.8% January (from 2.9%)

Workweek: 34.5 vs 34.4 exp vs 34.3 prior. This could be a source of wage growth. Finally.

Participation: 63.0%, +0.3% mo/mo. Huge.

+806K added to labor force, the most since Reagan start of the boom years (6/83).

Black unemployment: 6.9% vs 7.8% the prior MONTH

Construction +61K
Retail: +50K
Professional +50K
Manufacturing: +31K. Oh, those jobs are not coming back, right?
Information -12K
Goods Producing: +100K

This shows what happens when you put $ back into the people's and businesses' hands versus having a central bank print money and banks and corporations hoard it.


NKorea: Another story that helps, i.e. Trump agreeing to meet.


OTHER MARKETS
Bonds: 2.903% vs 2.872%

EUR/USD: 1.2296 vs 1.2305

US/JPY: 106.91 VS 106.41

Oil: 60.75, +0.64

Gold: 1316.70, -5.00


We are going to get the big open. Will it hold? That is the question, but after 5 days up we are not that interested in chasing but will look at good positions. Taking some profits as well.
Jon Johnson, Chief Market Strategist
InvestmentHouse.com
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