Posted: 03 Dec 2020 02:55 PM PST
Tomorrow morning the Bureau of Labor Statistics will release its Employment Situation report for November. Depending upon your preferred source, the consensus estimate is for a gain of approximately 450,000 net new nonfarm jobs. That would be much better than the 307,000 that ADP reported yesterday. Historically, the market has responded favorably to the jobs report released in December. S&P 500, NASDAQ, Russell 1000 and Russell 2000 have all advanced fifteen times in the last twenty years. DJIA’s record has one more loss. Average gains range from a low of 0.36% by DJIA to 0.69% by Russell 2000. Sizable losses in 2018 do drag down historical average performance, but the overall trend spanning the last twenty years remains bullish.