🍘The Jobs Market Finally Shows Signs of Cracking

Good morning. June's job data showed growth of 209,000 jobs. While that's a respectable number...

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. June's job data showed growth of 209,000 jobs. While that's a respectable number, it's a significant drop from May's 339,000 data… which was revised down last week to 306,000. Either way, the June job data is the lowest since December 2020. That's a sign that the job market may be starting to crack. It doesn't mean a massive surge in unemployment anytime soon. But a tighter job market would keep a lid on labor costs, and inflationary pressures. Since investors are hyper-focused on inflation right now, bad news in the job market looks like good news. Traders should continue to expect some seasonal weakness. But it's clear that we should continue to see inflation come down, if at a slower rate than in prior months. That could help push markets higher going into the end of the year. For now, investors should use down days to buy high quality companies. Now here's the rest of the news: Sponsored Content Who is Riding the Trading A.I. Wave? 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Click Here to Learn Time-Tested Proven Trading Strategies FREE & LIVE >> MARKETS DOW 33,734.88 -0.55% S&P 4,398.95 -0.29% NASDAQ 13,660.72 -0.13% *As of market close • Markets closed lower on Friday, reversing midday gains. • Oil rose 2.6 percent, closing at $73.63 per barrel. • Gold rallied 0.8 percent, last trading at $1,932 per ounce. • Cryptocurrencies traded flat, with bitcoin at $30,255 at the stock market close. Today's TOP TIPS Keep Your Portfolio Perking with Strong Brands Investors looking for opportunities now may want to let hot stocks cool off a bit. And they may want to look for stocks that are coming off a bottom and ready to move higher. This shift away from what's done well to what's likely to perform well ahead is a crucial part of investing. And it can take advantage of how the market may mostly move up over time, but different sectors tend to lead at different times. » FULL STORY Insider Activity Report: Walgreens Boots Alliance (WBA) Patrick Driscoll, an EVP at Walgreens Boots Alliance (WBA), recently bought 5,172 shares. The buy increased his stake by 10 percent, and came to a total cost of $146,984. That's the first insider activity since March, when the company CEO bought 10,000 shares, at a price of $339,510. Otherwise, a company director sold shares last year and another vice president exercised a stock option. » FULL STORY Unusual Options Activity: PacWest Bancorp (PACW) Regional bank PacWest Bancorp (PACW) has been trading in a range over the past few months. One trader sees shares trending to the higher end of that range in the weeks ahead. That's based on the August $8 calls. With 41 days until expiration, 7,114 contracts traded compared to a prior open interest of 283, for a 25-fold rise in volume on the trade. The buyer of the calls paid $1.02 to make the bullish bet. » FULL STORY IN OTHER NEWS • Job Growth Slows in June The latest data shows that the U.S. economy added 209,000 jobs in June. That's a reasonable number overall, but it fell short of expectations for higher job creation. The strong job market has kept inflation pressures up, and in turn pressure on interest rates, so the number indicates that the labor market may finally be starting to slow in earnest. • Banks Keep Interest Rates Low for Depositors While interest rates have been on the rise, banks themselves have been slow to increase the interest they're paying for depositors. Customers at major banks are seeing little, if any interest, while headline rates have moved from 0 percent to 5.5 percent in the current cycle. The low payments on deposits can likely help bank profits stay high, even as higher rates reduce lending demand. • Last Ford Fiesta Rolls Off Production Line Ford Motor Company (F) has produced its last Fiesta. The car model has been available in some form since 1976, and over 22 million versions of the car have been sold in over 50 countries over the decades. The final two produced cars will be added to heritage vehicle fleets in the U.K. and Germany. • Nikola Fails Share Issuance Proposal Electric truck manufacturer Nikola (NKLA) has failed for the second time to get shareholders to approve a proposal that would allow the company to issue more shares. More shares would dilute existing shareholders, but provide much-needed capital. The company is looking for a further vote on August 3, and requires at least 50 percent approval. • Ant Group Faces $1 Billion Fine Chinese conglomerate Ant Group faces a fine of nearly $1 billion from regulators in the country. 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