Jobs, jobs, and more jobs—but hopefully not too many. That’s the name of the game today for markets with the S&P 500 near a record high.
Economic data are always important. But when a rate-hike decision is seen as 50-50 and the Federal Reserve chairman refuses to give any forward guidance—they become massive.
The August jobs report is a big deal, as is next week’s consumer price index data.
Jobs can impact stocks in other ways. Trade Desk shares were rising on plans to cut 15% of its workforce.
It’s worth remembering there’s a story behind every job. Some are harder than others—just ask new Lululemon CEO Heidi O’Neill, who takes charge next week. The stock was down 19% ahead of the open after earnings late Thursday.
Adobe’s newly announced CEO Anil Chakravarthy will also have a tough task reinvigorating the software company. While Apple’s new hire, or internal promotion, John Ternus is also dealing with an early challenge.
Once you’re established in the job, it doesn’t get any easier. But it’s best to avoid the sort of public spat currently unfolding between the CEOs of AMC Entertainment and Robinhood.
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