Near term factors:
Low November jobs report
Fed meeting 12/7
Long term factors:
FED raising rates
Yield curve inversion
Today we saw positive gains in the morning and then proceeded to sell off as the day went on. The reason is due to the continued uncertainty on what the Fed plans to do at their upcoming meeting starting on December 18th. This morning we saw an underwhelming 155,000 jobs added last month which came as a concern for investors.
This disappointing jobs number may be a key piece of influence on the fed. If they’re teetering on whether on not to hike; this jobs number may be to blame. Expect continued volatility as we lead up to the meeting.
Lastly, the uncertainty has increased and typically investors prefer not to jump into long positions before the weekend in case a news event occurs that would have a negative effect on their portfolio. Most would rather regroup and see what Monday brings. On that note, we hope everyone enjoys their weekend and tunes into futures opening on Sunday night to get a sense of direction for Mondays open.
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