Home » Stocks Are Rising on October 4 Following A Favorable Jobs Report

Stocks Are Rising on October 4 Following A Favorable Jobs Report
Stocks are moving higher on October 4 following a benign jobs report that is supportive of a Fed rate cut, but not a recession.

Stocks Are Rising on October 4 Following A Favorable Jobs Report

This column is my opinion and expresses my views. Those views can change at a moments notice when the market changes. I am not right all the time and I do not expect to be. I disclose all my positions clearly listed on the page, and I do not trade my account on the stocks spoken of in this column unless fully disclosed. If that does not work for you stop reading and close the page. Do not bother me or harass me.

Otherwise, enjoy the column!

Subscribe to the Monster Stock Market Commentary and join the 1,956 subscribers getting it for FREE every day!

Follow Us on StockTwits

October 4 – Stocks  mentions: SPY, AAPL, NFLX, SNAP, V, INTC

MICHAEL KRAMER AND THE CLIENTS OF MOTT CAPITAL OWN AAPL, V, NFLX

US Markets

  • S&P 500 Futures -10points
  • US 10-Year 1.53%
  • Dollar Index 98.77
  • Oil $52.62
  • VIX 19.85

International

  • Shanghai – Closed
  • Hong Kong -1.11%
  • Japan +0.32%
  • South Korea -0.55%
  • UK +0.30%
  • DAX +0.02%

MACRO

September JOBS DATA: +136,000 VS. ESTIMATES OF +145,000

Private Payrolls  +114,000 vs. Estimates of +135,000

UNEMPLOYMENT RATE: 3.5% VS. EST. 3.7%

WAGE GROWTH +2.9% vs. Estimates of 3.2%

**POWELL TO SPEAK AT 2 PM**

The S&P 500 futures are up some this but are holding support around 2,900 and the uptrend. The futures turned higher following the basically inline at unemployment data. Wage growth was weak, and that is supportive of the Fed needing to do more to stimulate inflation.S&P 500, spy

STOCKS

Apple (AAPL)

Apple is moving higher today on headlines from the Nikkei Asian Review that the company is ramping UP iPhone production by 10%. Resistance is at $226.

aapl, apple

Snap (SNAP)

Snap is moving up today following an upgrade from Morgan Stanley to Equal Weight from Underweight. The stock has been decimated since hitting resistance at $18.40. Support at $13.60 has held at this point, and resistance moves to $15.60.

Visa (V)

Visa is moving up this morning on headlines that US trade officials have lobbied Indonesia to loosen rules to help give Visa and Mastercard access to that market. The stock is trading above the upper end of its recent trading range, and I still think the stock could be heading higher to $182. Here is a premium article highlighting why I believe that is the case. Why Visa’s Stock May Rebound Sharply

V, Visa

Netflix (NFLX)

Netflix has been finding some interest among buyers around this $260 region, and it seems the stock may have at least found a floor for the time as we move into earnings. We’ll see what happens next. I don’t have any bold thoughts at this point.

netflix, nflx

Intel (INTC)

Intel looks like it is getting ready for its next leg higher towards $53.

Intel, intc

Anyway, that will be all, enjoy the action.

-Mike

Mott Capital Management, LLC is a registered investment adviser. Information presented is for educational purposes only and does not intend to make an offer or solicitation for the sale or purchase of any specific securities, investments, or investment strategies. Investments involve risk and, unless otherwise stated, are not guaranteed. Be sure to first consult with a qualified financial adviser and/or tax professional before implementing any strategy discussed herein. Upon request, the advisor will provide a list of all recommendations made during the past twelve months. Past performance is not indicative of future results.