Outlook 10/08: U.S. stock futures pointed to a balanced open as September’s jobs report badly misses expectations with payrolls increasing by just 194,000. The unemployment rate fell to 4.8%, against the expectation for 5.1%. Despite the weak jobs total, wages increased sharply. The monthly gain of 0.6% pushed the year-over-year increase to 4.6%. Federal Reserve officials are watching the jobs numbers closely. They see the jobs market still well short of full employment, a prerequisite for interest rate hikes. Market pricing currently indicates the first rate increase likely will come in November 2022.
/ESZ21: YVAH 4422 YPOC 4416 YVAL 4393 GAP 4391.50
/ES Plan: Yesterday market closed bullish, but overnight looks more balanced, moving within Yesterday's value, so these're the opening and initial balance options for today:
