Stock futures are way up this morning because that walking, talking human bundt cake Angela Merkel whispered the phrase “urgent action” earlier this morning. Great.
In the meantime, Non Farm Payrolls are hitting within the hour and this is a critical one for stocks. There’s no way we’re holding this week’s gains if the number disappoints. The official consensus is an addition of 125,000 new jobs – but expectations in real life are higher, possibly closer to 200,000. Anything under 150,000 will disappoint, anything below 125,000 will be taken as a disaster in the knee-jerk stock market reaction.
At Fusion we look at these data points on a three-month rolling basis at minimum. Any one month’s noisy number does not much affect our thinking, the trend is what gets our attention.
In the meantime, I’m out of links – I left it all out on the field this morning over at my WSJ linkfest, it’s off the chain this morning and loaded with actionable stuff. Head over here: