Dow Jones, Nasdaq, S&P 500 weekly preview: Attention on November jobs data
gained 0.83% to finish at 19,218.17. The Dow climbed 188.59 points, or 0.42%, to end at 44,910.65. Both the Dow and S&P 500 set new records for intraday and closing levels.
The key focus for this week will be the release of the November employment report on Friday. Strategists at JPMorgan project nonfarm payrolls to increase by 275,000, rebounding from October’s modest gain of 12,000.For the unemployment rate, the strategists foresee a slight rise to 4.2%, up from October’s 4.1%, as these special factors are likely to have a smaller impact on this measure.
The week also brings several significant sentiment indicators in the US. On the corporate front, this includes the ISM manufacturing index on Monday and the ISM services index on Wednesday, with particular attention on their employment and pricing components.: “There was an odd divergence of stock market sentiment indicators this past week. The Investors Intelligence Bull/Bear Ratio jumped to 3.46, well above its average over time. The AAII Bull/Bear Ratio fell below its average over time.
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