Market Overview

TD Ameritrade's Chief Strategist On The Jobs Numbers: It's Hard Not To Like

Share:

TD Ameritrade Chief Strategist JJ Kinahan commented on Friday’s job numbers, saying, “it’s hard not to like” as Kinahan noted more jobs, higher revisions for the past two months and wage growth.

"The private sector actually created 267,000 jobs,” which is a “healthier sign” than public sector job growth from Kinahan’s perspective.

The next measure will be the retail sales report on Thursday. “We need to see people out spending,” according to Kinahan. A positive indicator was this week’s auto numbers, which were “really good but the [last] durable goods orders...were really poor” and “those are both high ticket items, when people feel positive they’ll spend money on them.”

Kinahan stated that one of the first places people spend money is in retail because of cheaper items. An example might be “moving up...from Wal-Mart to Target to Macy’s to Nordstrom’s,” which is “a good measure of consumer confidence.”

The SPDR S&P 500 ETF Trust (NYSE: SPY) was down slightly at $205.83 on Friday.

Posted-In: JJ Kinahan TD AmeritradeAnalyst Color Econ #s Analyst Ratings

 

Related Articles (SPY)

View Comments and Join the Discussion!

Latest Ratings

StockFirmActionPT
BNEDSidoti & Co.Downgrades
NXGNDougherty & Co.Upgrades
RTIXSidoti & Co.Initiates Coverage On5.0
ALDRMizuhoReiterates18.0
NEWRCowen & Co.Maintains80.0
View the Latest Analytics Ratings
Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Trading Daily
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Daily Analyst Rating
A summary of each day’s top rating changes from sell-side analysts on the street.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at vipaccounts@benzinga.com

Dick Costolo On Twitter's Q4 And New Outlook On Google Partnership

Market Uncertainty Is A Golden Opportunity For Some