Jobs Report

Outlook 08/07: Stock futures tick higher on Friday as traders interpreted an unexpected loss in jobs in July as meaning the Federal Reserve won’t need to raise interest rates soon and can leave monetary policy on hold for now. July’s nonfarm payrolls report showed a drop of 23,000 jobs, while economists forecast a gain of 83,000. The unemployment rate fell to 4.1% as the labor force participation rate fell to its lowest level in more than five years. A majority of fed funds futures traders now expect that the central bank will hold its benchmark lending rate at the current 3.50% to 3.75% at the next policy meeting in September. Just a day ago, traders were pricing in a 55% chance of a quarter-point hike.

ESU26 (Sep2026): YVAH 7753 YPOC 7738 YVAL 7726 GAP 7738

/ES Plan: Yesterday market closed bearish, but overnight, after NFP, looks bullish, moving above value, so these're the opening and initial balance options for current session:

A) If market remains above YVAH 7753 with bullish internal/delta, buy towards YHOD 7770 ONH 7778 and ATH 7820.

B) If market moves below YVAH 7753 with bearish internal/delta, sell towards YPOC-GAP 7738 and YVAL 7726 magnets.

Note: It's 'Capital Preservation Friday'. Try to be calm and focus rather than thinking about your P/L account. Fridays are rebalanced days for portfolio managers to open or close positions. 

Market Movers

10:00 Fed's Barkin Speaks

11:00 NY Fed Expectations

13:00 Baker Hughes Oil Rig Count

15:00 Trump Speaks

15:00 Consumer Credit

Follow news and listen to order flow at FinancialJuice.

Follow Twitter updates using TweetDeck old version.

Questions via private twitter direct message (RTH)