Market Likes the Jobs Number

May 3, 2024
Author: Peter Stolcers, Founder of OneOption

The S&P 500 will open 60 points higher after earnings from Apple and a "Goldilocks" jobs report.

PRE-OPEN MARKET COMMENTS FRIDAY - The market has been wedged between the 100-day MA and the 50-day MA and it has been waiting for a catalyst. Earnings season is in high gear, the Fed eased up on quantitative tightening (QT) and job growth is stable. The SPY is going to challenge the 50-day MA this morning and we want to blow through it.

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