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 178,000 net new nonfarm jobs. This would be much better than the 67,000 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 fourteen times in the last nineteen years. DJIA’s record has one more loss. Average gains range from a low of 0.31% by DJIA to 0.66% by Russell 2000. Last year’s rout does drag down historical average performance, but the overall trend spanning the last nineteen years remains bullish.
As always, please use protective buy and sell stops when trading futures and options.
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