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.
The highly anticipated non-farm payroll report was released this morning, with results far below expectations: 98K new jobs were created in the month of March, well below the 175K expected by a host of analysts. The unemployment rate actually fell further than expected, down 200 basis points to 4.5% — the lowest rate since May 2007.
Many predictive models had not included weather considerations last month, which was rougher in much of the country following a much warmer February. This does look to have played a part. That said, payroll numbers for January and February were revised down 38K between the two months, bringing the trailing average of 178K — not terrible, bur certainly off recent-year highs.
Average hourly earnings continued to progress gradually, up 0.2% for the month. The U6 (“real” unemployment) fell even further to 8.9%. And labor force participation remained steady but flat at 63%. So while there’s no particularly stinging bad news aside from the top headline figure, the U.S. labor market appears to continue its familiar “chug along” performance.
The Private sector brought in 89K of those jobs, the most of which were provided by Business and Professional Services, 56K. This is consistent with the private-sector payroll data Wednesday from ADP (ADP - Free Report) , but otherwise this morning’s jobs figures are not currently aligned with those from ADP, which showed a much stronger labor force. Retail, no surprise, lost the most jobs in the month, -30K.
Attack on Syria
Important global actions were taken in Syria, where a sudden airstrike of nearly 60 U.S. Tomahawk missiles reportedly bombed an airfield associated with Syrian President Assad, which is blamed for a massive poison gas attack in that country against insurgents of Assad’s regime. This U.S. military operation did not see congressional approval before being enacted, nor does it follow current laws on the NATO charter. President Trump has apparently launched this attack from his private residence in Mar-a-Lago, Florida, where Chinese President Xi Jinping has been meeting with him on a host of issues not likely related to the Middle East.
There is obviously much both literal and figurative smoke yet to clear, but defense companies like Raytheon , maker of the Tomahawk missile, are seeing a big boost this morning. Gold futures are also higher on the geopolitical disruption, which is the age-old method of dealing with sort of risk adversity, so companies like Zacks Rank #2 (Buy) Seabridge Gold (SA - Free Report) should benefit, near term.
Considering the region in which this turmoil has newly erupted, major energy companies like ExxonMobil (XOM - Free Report) will be affected as well, though it’s less clear the impact on oil prices will be as big now that less of the world is dependent on Middle East oil and gas. WTI and Brent crude numbers are mixed at this hour.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Non-farm payrol Report in Focus
The highly anticipated non-farm payroll report was released this morning, with results far below expectations: 98K new jobs were created in the month of March, well below the 175K expected by a host of analysts. The unemployment rate actually fell further than expected, down 200 basis points to 4.5% — the lowest rate since May 2007.
Many predictive models had not included weather considerations last month, which was rougher in much of the country following a much warmer February. This does look to have played a part. That said, payroll numbers for January and February were revised down 38K between the two months, bringing the trailing average of 178K — not terrible, bur certainly off recent-year highs.
Average hourly earnings continued to progress gradually, up 0.2% for the month. The U6 (“real” unemployment) fell even further to 8.9%. And labor force participation remained steady but flat at 63%. So while there’s no particularly stinging bad news aside from the top headline figure, the U.S. labor market appears to continue its familiar “chug along” performance.
The Private sector brought in 89K of those jobs, the most of which were provided by Business and Professional Services, 56K. This is consistent with the private-sector payroll data Wednesday from ADP (ADP - Free Report) , but otherwise this morning’s jobs figures are not currently aligned with those from ADP, which showed a much stronger labor force. Retail, no surprise, lost the most jobs in the month, -30K.
Attack on Syria
Important global actions were taken in Syria, where a sudden airstrike of nearly 60 U.S. Tomahawk missiles reportedly bombed an airfield associated with Syrian President Assad, which is blamed for a massive poison gas attack in that country against insurgents of Assad’s regime. This U.S. military operation did not see congressional approval before being enacted, nor does it follow current laws on the NATO charter. President Trump has apparently launched this attack from his private residence in Mar-a-Lago, Florida, where Chinese President Xi Jinping has been meeting with him on a host of issues not likely related to the Middle East.
There is obviously much both literal and figurative smoke yet to clear, but defense companies like Raytheon , maker of the Tomahawk missile, are seeing a big boost this morning. Gold futures are also higher on the geopolitical disruption, which is the age-old method of dealing with sort of risk adversity, so companies like Zacks Rank #2 (Buy) Seabridge Gold (SA - Free Report) should benefit, near term.
Considering the region in which this turmoil has newly erupted, major energy companies like ExxonMobil (XOM - Free Report) will be affected as well, though it’s less clear the impact on oil prices will be as big now that less of the world is dependent on Middle East oil and gas. WTI and Brent crude numbers are mixed at this hour.