Back to top

View the PFP Archive

Plus 5 New Strong Buys for Today
Kevin Matras   
Profit from the Pros
By Kevin Matras
Executive Vice President
Zacks Investment Research

Stocks Soared Yesterday, All Eyes On This Morning's Employment Report

Stocks soared yesterday, particularly the Dow and the S&P, which erased Wednesday's losses, and especially the small-cap Russell 2000, which led the way with a 2.74% outsized gain.

Even though reports of another Omicron case was discovered (this time in MN), the market breathed a sigh of relief that lockdowns were not being considered at this time.

(Although, after the close, 5 more cases were confirmed in NY.)

So far, the belief remains that the current vaccines should provide some protection, and that the symptoms of Omicron appear to be mild.

Omicron and inflation will continue to influence the market.

But the focus will shift today to the Employment Situation report by the Bureau of Labor Statistics (BLS). The consensus is calling for 543,000 new jobs to have been created in October (525K in the private sector and 18K in the public), with the unemployment rate ticking down from 4.6% to 4.5%, while the participation rate ticks up from 61.6% to 61.7%.

Wednesday's ADP Employment Report beat expectations with a gain of 534,000 new private payroll jobs last month vs. the consensus for 525,000. While the ADP report has a spotty track record of predicting what the BLS will say, it was encouraging nonetheless to see a positive surprise.

Moreover, yesterday's Challenger Job-Cut Report fell to 14,875 from last month's 22,822. And the Weekly Jobless Claims beat expectations at 222K vs. views for 245K.

But the Employment report is its own report. Nevertheless, the other jobs related reports are pointing in the right direction.

The Employment report comes out at 8:30 AM ET.

The market will also get the PMI Composite report, the ISM Services Index, and the Factory Orders report as well.

And traders will be looking for signs that Congress will pass the government funding measure by midnight tonight to avoid a government shutdown. The House has already approved an extension that goes thru February 18, 2022. It's been reported that the Senate has struck a deal to do the same. But nothing is done until it's done.

Should be a busy day.

In the meantime, we've got exactly 4 weeks and 1 trading day left until the end of the month and the end of the year. And with December typically being a strong month for stocks, we look poised for a strong finish.

So make sure you're taking full advantage of it.


Kevin Matras

Executive Vice President, Zacks Investment Research


Will You Profit from the Blockchain Boom?

According to experts, it's 10 times more valuable than the internet. This "Internet of Money" is already changing the way the world does business. It's projected to skyrocket 7,953% from $4.9 billion today to nearly $395 billion by 2028.

Now Zacks is targeting blockchain technology that drives cryptocurrencies like Bitcoin and others. The goal is to ride the growing boom without whiplash volatility from investing in the cryptos themselves.

Special opportunity ends midnight Sunday, December 5.

See our blockchain stocks now >>

Most Popular Articles from

Image: Bigstock

4 Stocks to Buy as Manufacturing Activity Continues to Expand

Manufacturing activity has accelerated for the 18th straight month, reflecting the underlying strength in the nation's economy. Read More »

Image: Shutterstock

5 Chemical Growth Stocks to Buy on Industry's Positive Momentum

Demand for both commodity and specialty chemicals remains healthy in key end-use markets. Read More »

Image: Shutterstock

3 Semiconductor Stocks Bucking the Trend Amidst Market Volatility

While semis have advanced significantly this year, the ongoing supply constraint issues will continue into 2022. Read More »

Image: Bigstock

Here's How the EIA's Inventory Report Affected Oil Prices

We review the EIA's Weekly Petroleum Status Report for the holiday-shortened week ending Nov 26. Read More »

Image: Bigstock

2021's Top Value Stock Superstars

It's been a great year for value investors as cheap stocks like Diamondback Energy and Dick's Sporting Goods have soared over 100%. Read More »


Increase Investment Returns with Free Zacks' Portfolio Tracker

Catch breaking news on your stocks and funds at a glance, including timely recommendation changes ... Zacks Ranks ... Industry Ranks ... earnings announcements ... earnings estimate revisions ... and more. And now you can screen for new stocks to improve portfolio performance.

Click for Free Tracker & Screener >>

Image: Bigstock

Bull of the Day: SMART Global Holdings (SGH)

SGH is roaring out of the shadows with an ambitious growth strategy that won't remain under the radar for much longer. Read More »

New Zacks Strong Buys for December 3rd

Here are 5 stocks added to the Zacks Rank #1 (Strong Buy) List today. Read More »


Download our app for convenient on-the-go access to even more—daily and weekly newsletters published by Zacks experts, proprietary research and tools, and Portfolio Tracker on

Download our Zacks App for Apple iOS
Download our Zacks App for Android

Visit Success Stories to hear how Zacks research, tools and portfolios help our members outperform the market.