With peak earnings season now behind us, other than the stock market’s hyper-focus & strong inverse correlation to Treasury yields (interest rates), the “other” big thing to watch going forward are the various employment reports published periodically that give us some direct insight to the jobs market as employment is typically final pillar to go before a recession begins.
Initial Jobless Claims 1 Nov 8th
The Initial Jobless Claims report will be released tomorrow morning at 8:30am EST & has the potential send the stock market lower if much above expectations (my yellow zone) & especially if a big spike up to my red zone as that would solidify the uptrend since the Sept low. I also marked the consensus of 220k (black line) and consensus range of 210-225k on the chart above.
Initial Jobless Claims 2 Nov 8th