There was plenty of market moving economic data Friday led by the monthly Employment Report.
The headline number of new jobs came in sharply higher at 321K vs 230K expected & prior 243K. Naturally, bullish algos jumped on the report since they don’t have time to look under the hood. But we have time since others in the financial media won’t give you this information.
So here are some negative highlights to contemplate:
Later in the day Factory Orders fell once again to -0.7% vs -0.3% expected & prior -0.5%.
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