📊Rosy job data sparked fear again💸

The robust job data we received on Thursday spooked intense fear among investors as the Fed is probably prepared to continue its rate hike to cool the labour market. Market participants predict a 0.25% to 0.5% rate hike in the next FOMC in February. Investors must see if hiring is slowing quickly enough for the Fed to feel comfortable. 

🥃All eyes on today’s job report🎯

The Bureau of Labor Statistics will be reporting the employment condition. At 9.30 pm, we will have the Nonfarm Payrolls. We are expecting it to cool drastically to 200K from 263K.  The unemployment rate should remain around 3.7%, similar to the prior period. 

It is crucial for us to get a weak labour report so that the Fed can slow down its rate hike to dampen the labour market. But, on the other hand, any rosy readings will spark the animal spirit of the markets to collapse, as fear is always around the corner.

📮What are the dishes for the day?📖

Beyond the job report, the Factory order for MoM comparison for Nov will be released, and we expect a decline of 0.8% compared to a growth of 1.0% in prior periods. We expect it to release at 11 pm.

ISM Non-Manufacturing PMI is also expected to be released at 11 pm, and we can see a slower expansion at 55.0 compared to 56.5. 

It is 6 Jan, Friday, at 8.50 am in Singapore and 7.50 pm in New York. Some of our old stonks counter as BBBY had collapsed after possible bankruptcy news. However, the general Chinese and Hong Kong market is holding well, and today’s economic data might be the catalyst for the equity market to break out of its ranging mode. 

Let’s hope for a splendid first week of trading.