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< BACK TO ALL REPORTS

Bad job

Jason Goepfert
2021-01-14

Jobless claims came in much worse than expected. Since markets took off in October, though, misses have been just another excuse to buy, with the S&P losing only once during the bulk of the day, and even that was just barely, as a 0.4% loss into the open was mostly erased during the day.

As always, it's often helpful to watch and see if we see a change. If the narrative has been bad-news-is-good-because-stimmy, and with the new administration due to announce a massive package tonight, then a drop in stocks today will be one of the first signs that just maybe, the "good" news has been priced in.

Yields were a mixed bag, though the couple of times they dipped after the open, they rose as the sessions wore on.

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