Markets Are Heading Higher Ahead Of Huge Jobs Report

Good morning! Happy Jobs Day.

Today at 8:30 AM we get the Non-Farm Payrolls report for January.

A full preview of the report is here, but the short version is that analysts are expecting 180,000 new jobs and for the unemployment rate to stay unchanged at 6.7%.

In the meantime, markets are gaining a bit. US futures are up to the tune of 0.3%. Europe is up as well. Japan had a big night, rallying 2%. It seems that, for the moment, the selling we’ve seen of late has calmed down.

Of course, today’s jobs report has the potential to upset any balance in a number of ways. A strong number could get people talking again about the Fed tightening. And a weak number could play into the new meme that once again, the economy is failing to achieve breakout speed.

We’ll know soon!

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