📊 Markets Eye Nonfarm Payrolls
Wall Street focus is firmly on tomorrow’s nonfarm payrolls data (Friday 8:30AM ET) for the next big cue on employment and Fed policy.
- Broadcom (AVGO) surged +8% premarket on strong earnings.
- Samsara (IOT) ripped +10% and DocuSign (DOCU) +8% on solid results.
- Futures are in the green: S&P +14pts, Nasdaq +118pts, while Dow is flat.
The S&P 500 closed at a new record yesterday, boosted by weaker labor data that fueled rate-cut optimism. Private hiring slowed and jobless claims ticked higher—bolstering bets for a 25bp cut Sept. 16–17 (now nearly a 100% lock).
📌 Economists expect:
- Jobs +75k (vs +73k in July)
- Unemployment up to 4.3%
- Avg hourly earnings +3.7% YoY
Analysts note: unless payrolls shock in either direction, tomorrow’s report likely locks September’s cut, with more attention shifting to October & December meetings.
💡 Technical Take
Yesterday’s $QQQ tech index action signaled momentum toward a new ATH above 583.32.
- Bulls must hold 570 support to keep the reversal intact.
- Overnight futures pushed QQQ >577.
- Pending today’s data, we’re positioned for a breakout into the weekend.
Bitcoin ~$111.3K | Gold ~$3,620 | Silver ~$41.5
📅 Today’s Key Data Releases:
🇺🇸 Avg. Hourly Earnings (Aug) – 8:30AM ET
🇺🇸 Unemployment Rate (Aug) – 8:30AM ET
🇺🇸 Private Payrolls (Aug) – 8:30AM ET
🇺🇸 Participation Rate (Aug) – 8:30AM ET
🇺🇸 U6 Unemployment Rate (Aug) – 8:30AM ET
🇺🇸 Baker Hughes Oil & Total Rig Count – 1PM ET
🔥 OptionsPlayers Action
- Still riding the INTC calls (alerted) ✅
- Still in BABA calls (chat play) ✅
- Secret Sauce Live Stream is today—don’t miss the setups. Email Steve@optionsplayers.com to get access.
💰 And don’t forget: Today we’ve got a $1.7 BILLION OP Lotto.
All member tickets will be dropped in chat after the bell.
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