S&P 500 Up 73.3% of the Time on December’s Jobs Report Day

Stock Trader's Almanac

Fri, Dec 2, 2016, 10:00 AM

Tomorrow’s jobs report will be the last before the Fed meets on December 13-14. The trajectory of the labor market has been reasonably solid with consistent monthly gains since around early 2011. The Fed is widely expected to raise the Fed funds rate this December and since the median estimate for the report is 200,000 net new jobs, it is highly likely to have little impact on the Fed’s decision.

However, the market has generally responded favorably to the December jobs report. Over the last 15 years DJIA, S&P 500, NASDAQ, Russell 1000 & 2000 have all advanced 11 times on the day of the December jobs report. Average gains range from 0.46% for DJIA to 0.71% for Russell 2000. Since 2008, the worst decline was 0.38% by NASDAQ in 2012.

Read this article in its original format at AlmanacTrader.com

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S&P 500 Up 73.3% of the Time on December’s Jobs Report Day

Read this article in its original format at AlmanacTrader.com

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