Outlook 02/01: Stocks futures pointed to a higher open on Friday after the U.S. government released jobs growth data that easily beat expectations. The U.S. economy added 304,000 jobs in January. Economists polled expect the U.S. economy to have added 170,000 jobs in January. The report follows a 35-day U.S. government shutdown. It also marks the 100th straight month of jobs growth.
/ESH19 Value: YVAH 2708 YPOC 2698 YVAL 2693 GAP 2706.75
/ES Plan: Yesterday market closed balanced and overnight still looks balanced after NFP data, moving a few ticks below previous value, so we've these options:
A) If market remains below YVAH 2708 with bearish internals, be a seller towards LVN 2700 YVAL 2693 and HVE 2684.
B) If market starts to move above 2708 with bullish internals, buy towards ONH-HVE 2712 PBT-HVE 2719 and HVE 2728.
Today's Economic Calendar
09:45 PMI Manufacturing Index
09:45 Fed's Kaplan Speech
10:00 ISM Manufacturing Index
10:00 Construction Spending
10:00 Wholesale Trade
10:00 Consumer Sentiment
01:00 PM Baker-Hughes Rig Count
Disclaimer: All information on this outlook is for educational purposes only and is not intended to provide financial advice.
Questions via @verniman direct message (RTH) or email (After Close).
Glossary of terms
