The Market Awaits the Jobs Number

 | Jun 06, 2013 | 4:16 PM EDT  | Comments
  • Comment
  • Print Print
  • Print
Stock quotes in this article:

hd

,

whr

,

wfc

At least we know what this market wants: It wants any number that can get interest rates down even a tad. Anything that says the decline in bond prices isn't inexorable and immediate.

Plus, there's a nice synergy developing here. Today the housing stocks led us higher, including Home Depot (HD), Whirlpool (WHR) and Wells Fargo (WFC), the latter of which is now trading as if it is a housing stock.

These were the ones that led us lower. Today the market came in to buy the real estate investment trusts and dividend stocks that had been so beaten up.

That, again, is an instantaneous reaction to a slight drop in rates.

All of that is encouraging, except but it just puts more pressure on tomorrow to keep the trend going. That's what a jobs number from 150,000 to about 160,000 would do.

That's the sweet spot judging by today's action.

That's what we need to go higher. 

Columnist Conversations

A bit late due to an uncooperative computer, but the bottom line is I'm expecting day timeframe scalpers to be...
My RMP article, to be published later today, is about Eaton (ETN) and why it's getting cheap enough to be inte...
yahoo is being valued at zero relative to the post baba ipo trading and how baba's value relates to yahoo's va...
ICYMI: Reality Check Research Report red-flagged CRR warned today of "competitive pricing" as more of its cust...

BEST IDEAS

REAL MONEY'S BEST IDEAS

Columnist Tweets

BROKERAGE PARTNERS

Except as otherwise indicated, quotes are delayed. Quotes delayed at least 20 minutes for all exchanges. Market Data provided by Interactive Data. Company fundamental data provided by Morningstar. Earnings and ratings provided by Zacks. Mutual fund data provided by Valueline. ETF data provided by Lipper. Powered and implemented by Interactive Data Managed Solutions.


TheStreet Ratings updates stock ratings daily. However, if no rating change occurs, the data on this page does not update. The data does update after 90 days if no rating change occurs within that time period.

IDC calculates the Market Cap for the basic symbol to include common shares only. Year-to-date mutual fund returns are calculated on a monthly basis by Value Line and posted mid-month.