Friday’s outlook is all about the jobs numbers. On Thursday stocks stayed fairly flat ahead of the July non-farm payroll numbers due out Friday before the markets open.
S&P Index Close
The S&P index stayed within a tight range with a low of 2159.07 and a high of 2168.19 ahead of July’s unemployment report. By the close, the S&P was up 0.46 points, vvirtually unchanged from Wednesday to close at 2164.25.
Dow Jones Index Close
The Dow closed lower by just 2.95 points to 18,352.05.
NASDAQ Index Close
The NASDAQ squeezed out a small gain of 6.51 points tom lose at 51.25.
Stock Market Outlook – Technical Indicators At The Close
Stock Market Outlook: Chart Comments:
The technical outlook is unchanged from Wednesday night.
Stock Market Outlook for Tomorrow – August 5 2016
For Friday Aug 5 2016, the market outlook depends greatly on July’s unemployment report.
Markets traded virtually sideways all day on Thursday. I had expected a bit of a move up ahead of the jobs numbers. Investors are concerned that we will see lower job growth than expected and a pullback in stocks.
Overall though, the technical indicators are signaling to investors to be cautious, but to also be prepared for a possible move higher for stocks shortly. On Friday then, the market direction really will depend on the monthly unemployment report.
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