The January unemployment number was announced this morning showing slower than expected job growth in January. Analysts were expecting around 180,000 jobs to be added while the actual number came in at 113,000. The unemployment rate also down ticked from 6.7% to 6.6%. Markets traded lower initially then swung wildly from lows to highs and E-mini S&P 500 futures are now trading 14 points higher on the day trading in a 27.75 point range. LNKD reported quarterly earnings this morning announcing better than expected earnings but lowering guidance. TWTR and FB are both higher this morning with TWTR rallying nearly 4%. Looking to next week we see few catalysts and could expect relatively muted moves in the broader market. We have been seeing some bullish activity in retailers like JWN, TJX, and LB which could represent speculative bets ahead of next week’s retail sales number on Thursday. We will likely revisit potential long set ups in those names ahead of the number.
