Oil prices are bouncing back today after a mixed jobs report
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| | | 8/02/2019 | |
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| Stock Futures Slip as Tariff Woes Weigh | | By Patrick Martin | | Dow Jones Industrial Average (DJI) futures are under pressure, extending Thursday's sharp afternoon pivot following the latest trade threat from President Donald Trump. China's foreign ministry has responded today by promising countermeasures in response to new tariffs -- and exacerbating anxiety this morning is the July jobs report, which seems to have only muddied the waters further in terms of Fed policy. Specifically, the Labor Department's numbers showed nonfarm payrolls increased by 164,000 last month -- 1,000 fewer than expected -- while the unemployment rate remained at 3.7%, defying expectations for a drop to 3.6%. However, that was due to a jump in the participation rate, as the labor force swelled to a record-high 163.4 million. Elsewhere, oil prices are bouncing back, with September-dated crude futures up 2.2% at $55.13 per barrel. Continue reading for more on today's market, including: - 2 reasons to short this oil stock.
- IBM stock earned a rare bull note yesterday.
- 2 stocks that tanked after earnings.
- Plus, subpar quarterly reports for Etsy and Square; and Newell stock on the mend.
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