Money Morning's Strategist Talks April's Payrolls Data

Global equities sold off yet again on Friday ahead of Friday's release of the monthly U.S. nonfarm payrolls data. Investors and traders are likely going to be looking at the data release extra closely with the hopes that a strong read will help jolt the markets back higher. D.R. Barton, MoneyMorning's Chief Technical Strategist,

and what investors and traders can expect. According to Barton, the Fed has taken a "more dovish or more accommodative" approach since earlier this year, and this is likely to continue unless Friday's payrolls number are a "blowout." However, he did suggest that Friday's data release by itself "won't change people's minds" as a "series" of strong figures would be needed "to really move the Fed from where they are postured now." Barton himself is expecting the non-farm payrolls number to be a "small beat." Economists polled by

are expecting the data to show U.S. employers added 202,000 workers in April with the jobless rate holding steady at 5.0 percent. Barton added that he is not seeing "robust growth" across the services and productions sector that would "mirror" the improving employment numbers. Finally, Barton suggested that the Federal Reserve has provided investors with an "aura of a safety net" which is sustaining the indices near their all-time highs.