Non-Farm payrolls continued their slowing trend seen all year. We previewed to subscribers that weekly jobless claims previewed a light NFP number.
Slowing isn't great for markets. Jobs are probably the most important economic indicator to market traders.
The Fed appeared to preview a rate cut in 10 days. The Street expects two cuts this year. We'll see what the Fed previews closer to the Fed meeting.
I did not like this.
Hong Kong's Carrie Lam said there would be no China troops just a few days ago. The tweet above however is more recently from China's state run media editor-in-chief. These are very strong words. Anything close to reality will not be good for markets.
I didn't like stock market action on Thursday. I thought markets should have ripped higher. Friday was nothing but I turned much less bullish on Thursday. Tech fundamentals are good but I think this Hong Kong issue is a building risk.
The above is taken from today's Portfolio & Trades Update to subscribers. Along with our full big cap tech coverage and outperforming stock picks, subscribers receive our market commentary for each trading day. To sign up for a Free Trial Click Here.
Here's a list of companies we're speaking to or following this week at Deutsche Bank's Tech conference: TWTR, WDC, GOOG, GOOGL, CYBR, SHOP, CDNS, AMD, QCOM, AAPL, CRUS, INTC, ANET.
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