🎯Have We Hit a Turning Point for the Job Market?

Good morning. There's usually some strong seasonal demand in the job market, even if it's mostly...

It's the monthly jobs numbers today and they're not going to be pretty and will be possibly the tip of the iceberg as we head into May.

Good morning. There's usually some strong seasonal demand in the job market, even if it's mostly for part-time retail and fulfillment level work. So the latest jobs numbers, which show the weakest gains for labor since January 2021 show that the market may be finally coming off of its imbalance in favor of workers. Add in the myriad of companies announcing thousands of layoffs in the past few months, and it's possible that the economy is nearing a turning point in the job market. That's likely something the Fed wants to see, as a sign that inflation's drop won't just be another "transitory" data point. Traders should be cautious. Any one company making layoffs can be bullish, as it improves profitability. But when many companies are making layoffs at once, it can spell danger for the economy as a whole. Now here's the rest of the news: Sponsored Content Trade Swiftly, Patiently and Confidently with A.I. Trading can feel like a rat race out there…especially during this time of Q4. 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Today's TOP TIPS As Cyber Monday Grows, Grab a Winner Cyber Monday's growing influence over retail sales encompasses both the sale of physical goods from retailers online, as well as services that can be made online. The latter category, without storage or shipping costs, can be a higher profit-margin center for companies with such services. With this year's holiday spending underway, a few early winners from Cyber Monday have emerged. And investing in those companies could make profits even beyond the holiday season. » FULL STORY Insider Trading Report: Global Partners LP (GLP) Global GP LLC, the general partner of Global Partners LP (GLP), recently added 4,100 shares to their holdings. The buy increased the GP's stake by nearly 8 percent, and came to a total cost just over $130,000. This is the 8th buy from the general partner this year. A company director has also been a recent buyer, picking up 2,000 shares for just over $56,000 back in September. The last insider sale occurred back in May. » FULL STORY Unusual Options Activity: Vale (VALE) Shares of iron ore producer Vale (VALE) are up 22 percent in the past year, but are still well under the year's highs. One trader sees shares moving higher through the first half of 2023. That's based on the June 2023 $18 calls. With 196 days until expiration, 21,539 contracts traded compared to a prior open interest of 822, for a 26-fold rise in volume on the trade. The buyer of the calls paid $1.25 to get into the trade. » FULL STORY IN OTHER NEWS • Third Quarter GDP Revised Higher GDP rose at an annualized rate of 2.9 percent in the third quarter of the year, up from initial estimates of 2.6 percent. The updated number comes as economists forecast further growth in the fourth quarter. That's in contrast to the first half of the year, which showed back-to-back declines. • Job Openings Decline in October The number of job openings in the US declined to 10.3 million in October. That's down from 10.7 million in September. That's also about in-line with economist expectations. The data still shows that the labor market is tight, given the gap between job openings and the unemployed. • Mortgage Rates Drop for Third Week The 30-year, fixed-rate mortgage rate dropped to 6.49 percent this week. That's down from 6.67 percent last week. It's also the third week in a row where mortgage rates have dropped. Applications rose 4 percent over the higher week, but are still down 41 percent compared to the same week a year ago. • Eurozone Inflation Finally Eases Inflation in the Eurozone rose 10 percent for November. That's a decline from the prior month's read of 10.6 percent. The biggest driver behind the drop came from declining energy prices. The European Central Bank still sees higher interest rates as necessary to ensure that inflation has peaked. • Kraken Eliminates 1,100 Jobs Cryptocurrency exchange Kraken announced that it's laying off 1,100 employees. That represents nearly 30 percent of staff, somewhat higher than the 10-20 percent range seen at other tech companies in recent months. The move comes as cryptocurrencies have hit a two-year low amid a number of brokerage implosions. S&P 500 MOVERS TOP WDAY  16.392% NFLX  9.176% EL 9.1% JD 8.986% BIDU 8.952% BOTTOM NTAP 5.669% CRL 5.119% HRL 2.988% MAC 2.043% VTRS 1.834% Quote of the Day The market has shifted focus from the conclusion of the third quarter earnings reporting season to now additional factors that are likely to influence the Federal Reserve in their December deliberations. Investors are clearly focused on the path ahead rather than looking in the rear-view mirror. - Bill Northey, senior investment director at U.S. Bank, on why the market may trend lower ahead of the next Fed meeting now that earnings season is largely over. Sponsored Content Make more Trade Predictions like THIS! 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