The markets are waiting carefully for the publication of the employment report in the United States for the month of January, which we will know at 14:30 Spanish time.
185,000 are expected to be created. Nonfarm Payrolls and that the Unemployment rate has risen one tenth, to 3.6%.
“In addition to checking the pace of job creation in the country, which is expected to have slowed down compared to previous months, we will have to be very attentive to how the average hourly earnings of workers have evolved, both in terms of Monthly as in rate year-on-year”, they explain in Link Securities.
“The growth of this variable, which has been slowing down in recent months, is one of the factors that can most condition, for better or for worse (for the markets), the monetary policy of the Federal Reserve (Fed), hence its relevance,” these analysts add.
In this regard, these experts recall that the Department of Labor published yesterday that the New claims for unemployment benefits They fell by 3,000 in the week of Jan. 28, to a seasonally adjusted figure of 183,000 requests, their lowest level since last April. “Further indication that the U.S. labor market remains very tight and that the Fed will have a hard time weakening it, as it aims to avoid the feared second-round effects of inflation,” they say in Link Securities.
“We will see if some ‘good’ macro figures are or not able to facilitate Western stock markets to close higher on the last day of the week, a week that so far has been very positive for them,” conclude these experts.
“The foreseeable reduction in job creation and perhaps a slight upswing in the unemployment rate would be positive for the stock markets, although not enough to cushion the falls of the big technology companies”, they point out in Bankinter (BME:BKT).