We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
There was little need to watch the market Thursday as the breakeven finish was so predictable. That is because the Government Employment report this morning holds the keys for what happens next. When that is the case many traders stay on the sidelines awaiting the outcome.
If bad, then break out below the 50 day moving average at 2043.
If in line with expectations, then head back towards recent highs at 2100.
If great, then stocks may actually head lower as well, since it increases the odds of a Fed rate hike in June.
Given the importance of this jobs report, you can appreciate why the most interesting storyline on Thursday came from the monthly Challenger layoff report. It showed layoffs spiking to a 7 year high. On top of the weak ADP report from Wednesday, this news casts an even darker cloud over the Government Employment Situation announcement this morning.
Again, I believe that report holds the key for whether stocks break down under 2050 or head back up to 2100 and perhaps beyond.
Best,
Steve Reitmeister
Executive Vice President, Zacks Investment Research
Why are these select "Under $10s" so much more promising than others you may find? They are high-quality stocks with positive Zacks Ranks and solid fundamentals. Long-term gains of 2X, 3X, and even more are possible, according to research by our aggressive growth strategist.
These stocks offer the best of both worlds: immediate, explosive growth potential AND the increased likelihood of long-term profitability. Don't delay: they could skyrocket at any time.
Special Bonus Report: Get Invest Like Warren Buffet FREE until Saturday, May 7.
Follow your investments easily in one place. Get free email updates that alert you to major events affecting your stocks and funds, including time recommendation changes, earnings announcements and, most importantly, earnings estimate revisions.