The S&P 500 Index (NYSE: SPY) has been on a ridiculous tear since early October with a nearly 15% gain. Even more impressive has been the lack of meaningful dips, and the widespread participation with even lagging sectors breaking out higher. Some of the major catalysts were an easing in trade tensions between the US and China diffusing, the Fed committing to an even more dovish path, expectations of improving economic data, unwinding of extreme bearish sentiment, and underex...
Direct listings onto the stock market have been a recent trend among Silicon Valley startups lately, with many entrepreneurs considering it a quick and convenient way to raise capital.However, even though this is a method that has been employed by tech giants like

The December non-farm payrolls report came in at 145,000 jobs added which was just below the consensus of 160,000. The unemployment rate was unchanged at 3.5%, and average hourly earnings came in at 2.9% over the last 12 months which missed the consensus estimate of 3.1%. Overall, this report is consistent with an economy growing around 2% that is decelerating.

No Q4 Pickup

While this narrative is perfectly consistent with recent data over the past six months, it's not consistent with price action and behavior of equities over the last three months. The employment report also showed that hiring was flat and slightly negative in the manufacturing and industrial sectors, while employment in housing, retail, and health care climbed higher.

Manufacturing lost 12,000 jobs in December with some impact due to Boeing's (NYSE: BA) issues down the supply chain. Another notable miss is a surprise drop in professional and business services with 10,000 jobs lost. This follows nearly a decade of job growth in this area so bears watching to see if this is a random reading or the start of a trend. However, it is one more data point for bears.

Bullish for Asset Prices

Overall, the report is unlikely to meaningfully impact Federal Reserve policy in either direction and is bullish for stocks. Futures in interest rates were unaffected and continue to show one hike...

Third-Quarter GDP Grows 2.1%, Strong Con... The Commerce Department reported that third-quarter GDP increased at a 2.1% annualized rate in its final reading which was in-line with expe...
Third-Quarter GDP Grows 2.1%, Strong Con... The Commerce Department reported that third-quarter GDP increased at a 2.1% annualized rate in its final reading which was in-line with expe...
Third-Quarter GDP Grows 2.1%, Strong Con... The Commerce Department reported that third-quarter GDP increased at a 2.1% annualized rate in its final reading which was in-line with expe...
Third-Quarter GDP Grows 2.1%, Strong Con... The Commerce Department reported that third-quarter GDP increased at a 2.1% annualized rate in its final reading which was in-line with expe...
Housing Picking Up Steam Into 2020 Housing (NYSE: XHB) has been one of the best performers in 2019 and will enter 2020 with strong momentum and favorable fundamentals. Recent...
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Three Stocks Primed for a Santa Claus Ra... The Santa Claus rally refers to the bullish seasonal period that takes place over the last seven days of the trading year and the first five...

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