Bearish Jobs Reaction Likely

When people are working, the market should rally - right?

PRE-OPEN MARKET COMMENTS TUESDAY - The highlight this week will be the jobs report Friday. Analysts are expecting 98K new jobs and it could come in above that level. Normally, that would be bullish for the market, but not now. Bonds are making a new 20-year low and the Fed could hike again in December. If the jobs report comes in weaker than 98K, the market is likely to drop because inflation is rising while the economy is slowing down. For this reason, I feel surprise favors the downside this Friday.

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