Job growth has remained vibrant despite the slow-growing economy, and that's a trend investors are anxious to see confirmed in the February employment report on Friday.
div > div.group > p:first-child"> Even with some economists expecting growth around 1 percent for the first quarter, the labor market has been strong, and economists expect to see 185,000 jobs added in February. The economy is widely expected to bounce back in the second quarter to a pace well above 2 percent, after the temporary headwinds from the government shutdown and polar vortex abate.
"We think there's further upside for this bull market to go. The age of the bull does not matter. What really matters is how healthy it is," said Patrick Palfrey, U.S. equity strategist at Credit Suisse."Whatever the concerns, around trade tariffs, or decelerating corporate profits, we believe this bull market remains very healthy."
The Citigroup economic surprise index fell to a new 18-month low Friday, following a recent rash of disappointing reports. When economic reports come in below economists' expectations, the surprise index falls and a low number for the index is reflecting the economic slowdown.Goldman Sachs economists Friday said they were expecting first quarter growth of just 0.9 percent, but they raised second quarter growth to 2.9 percent.
"I think companies should stay steadfast in their hiring," Zandi said. He expects job growth of about 200,000 but notes there could be a payback for the huge amount of hires in January.
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