All posts by Michael Comeau
August NFP Report Instant Analysis: Did the Fed Fool Us Again?
Oh man, did we just get fooled by the Fed again? Fed heads have been selling a super-hawkish narrative for weeks but today’s job report was just a little bit shaky. The 151K headline number missed expectations by 29K. And perhaps most importantly, average hourly earnings rose just 0.1% month-over-month, missing the 0.2% consensus. We’re […]
Continue Reading -->The Morning Hammer: Happy Jobs Day!
It’s been about a decade since the market’s made a real move, but maybe we’ll get some excitement with this morning’s August NFP report, which hits the wires at 8:30 a.m. ET. Traders are looking for 180K on the headline number with a 4.8% unemployment rate and 0.2% month-over-month growth in average hourly earnings. With […]
Continue Reading -->T3’s Take 3: Bears Fail Ahead of Pivotal Jobs Report
1) Jobs in Focus The nonfarm payrolls report is always one of the biggest events of the month, and with traders thinking the Fed is about to raise rates, tomorrow’s August report is no exception. Today, the US dollar fell on profit-taking following weaker-than-expected Markit US Manufacturing PMI, ISM Manufacturing, and Construction Spending numbers. But […]
Continue Reading -->Jobs Report Preview: Is Volatility About to Explode?
The nonfarm payrolls report is always one of the biggest events of the month, and with traders thinking the Fed is about to raise rates, tomorrow’s August report is no exception. Here is a list of the consensus numbers: Change in Nonfarm Payrolls (Aug): exp. 180k, prior 255k Two-Month Payroll Net Revision (Aug): prior 18k […]
Continue Reading -->T3’s Take 3: Do You Feel the Heat Around the Corner?
“Don’t let yourself get attached to anything you are not willing to walk out on in 30 seconds flat if you feel the heat around the corner.” -Neil McCauley, as portrayed by Robert DeNiro in Heat Before I get started, I’d like to invite you to check out the replay of our latest webinar Why […]
Continue Reading -->The Morning Hammer: More of the Same Yawns…
Crude oil is dipping below $46 on the American Petroleum Institute’s inventory report, which said US crude stocks rose 942K barrels last week. Remember, we get EIA data today at 10:30 a.m. ET. Traders are looking for a 1300K build. It should be interesting. Two weeks ago, we saw a massive beat, but last week was […]
Continue Reading -->T3’s Take 3: The Big Hawk Is Still Flying!
1) The Hawk Trade Rages on Today, Fed Vice Chairman Stanley Fischer said he believes that productivity growth will rebound, keeping traders confident that the Fed will raise rates again this year. This helped boost the popular long dollar/short gold trade. The dollar rose by 1.1% against the yen and 0.4% against the euro, while gold fell […]
Continue Reading -->The Apple Bounce, and 4 Other Things I’m Watching
1) Apple Bounces Apple (AAPL) is down but well off its morning low, which was driven by the EU tax ruling. The final verdict is unknown, but even in the worst case scenario, Apple may not feel a thing from a financial standpoint. The real significance, however, is seen in other tech names who have Ireland […]
Continue Reading -->The Morning Hammer: Apple Slammed on Tax Ruling
Don’t Fear Forex… Attend Kurt forex’ free webinar today after the close and learn why so many stock and options traders are embracing the lucrative world of forex. ******* Shares of Apple (AAPL) are getting slammed this morning after the European Commission found that Ireland gave the iPhone maker an illegal “selective tax treatment. Apple has been […]
Continue Reading -->T3’s Take 3: Banks Lead the Way
1) Banks Rock Following FOMC Chair Janet Yellen’s hawkish-leaning speech in Jackson Hole on Friday, traders are increasingly certain that the Fed will raise interest rates this year. That sent up bank stocks, which benefit from higher rates, up big today. The S&P Financials ETF (XLF) rose 0.9% to $24.32, led by solid gains in […]
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