📉 SPX | 4,391 (-8, -0.2%)
📉 DJIA | 34,746 (-9, 0.0%)
📉 CCMP | 14,580 (-74, -0.5%)
🎈 Employment gains (non-farm payrolls) came in at 194K against 500K expected, a second consecutive miss representing the slowest job growth for 2021 so far. With unemployment nonetheless falling from 5.1% to 4.8%, Friday’s trading session saw a relatively volatile mix of gains and losses.
🏭 Oil appears set to revisit $80, sending energy stocks to their 4th consecutive week of gains. The benchmark energy stock sub-index gained +1.9% yesterday, leading gains in the wider stock market.
🏦 “Stagflation-lite” is what many are calling their outlook for 2022, as signs that inflation may be more permanent than previously thought, continues to emerge. With central bankers worldwide torn between supporting still-weak economies and rising inflation, data points over the next few months will become increasingly critical.