this week
Today this week was being considered a big day for the markets. We had the December jobs report and there was speculation that the Supreme Court might make its decision on IEEPA tariffs (it didn’t).
The jobs report was not good, but not bad either. The good thing is that the unemployment rate fell from 4.5% to 4.4%. And while the economy added more than 50,000 jobs in December, it was less than expectations of +70k. The biggest thing is that the last two months were revised Below A total of 76,000 jobs.
Still, it was enough to reduce the likelihood of a Fed rate cut later this month from 10% to 5%.
So, for the week, the Nasdaq-100® finished the week up +2% (blue line), while 10-year Treasury yields were down a few bp at 4.15% (black line).
next week
Here are the top shows I’m watching next week:
- Supreme Court’s decision on Wednesday
- December CPI on Tuesday
- December retail sales on Wednesday
- December industrial production on Friday