The official Feb. employment report will be released on Friday (3/8). The Street is expecting an increase of 171K in the NFP figure. Our model generated a figure slightly below that, 165K. Improvements in weekly initial jobless claims appear to have stalled a bit as the Feb. numbers were slightly higher than Jan. ISM's employment sub-index also declined slightly in Feb. We used the Street's ADP estimate of a 173K increase for Feb. in our model. As the S&P 500 is again approaching the 2013 high of 1530, we think a miss will likely drag down the market, unlike the January miss.
No comments:
Post a Comment