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Give the Benefit of the Doubt to the Bull

By Matthew Kerkhoff

 

The big item on the radar this week is the monthly jobs report, due out Friday. A host of weak economic reports, including the flat first-quarter growth reading last week, have investors wondering whether this slowdown is transient or will prove to be the beginning of a new trend.

 

Key evidence for that debate will come as we discover how many jobs the economy created in April. Recall that March showed a sharp slowdown in job creation, but this slowdown has been uncorroborated by applications for jobless claims, which hit a 15-year low last week.

 

 

A sour report on Friday, possibly combined with a flat or downward revision to March’s 129,000 figure, would send an ominous signal about growth for the rest of the year, and would further complicate the Fed’s goal of achieving liftoff.

 

We did see one encouraging bit of news today: new orders for manufactured goods rose 2.1%, ... Log in or subscribe to continue reading.


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