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DOES A GOOD FRIDAY JOBS REPORT = A ROCKY RIDE ON MONDAY?
As economic indicators go, the Labor Department's employment report, nearly always released on a Friday, is the biggest potential market-mover.
So what happens when the report is released on Good Friday, a market holiday, leaving investors to stew and ruminate over the weekend before they can act?
The stock market moves on the Monday immediately afterward tend to be outsized.
The jobs report has landed on Good Friday 12 times since 1980. On seven of those instances, the S&P 500 moved more than 1% when the markets reopened the following Monday. Five of those seven instances were negative moves.
"(Investors) obviously don't like the inability to respond to the data and it ends up in a sense being compounded by the long weekend," Sam Stovall, chief investment strategist of CFRA Research, tells Reuters. "Prepare for a bounce or a trounce on Monday."
(Stephen Culp)
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UBS WARNS OF FURTHER UPSIDE RISKS FOR ENERGY CLICK HERE
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DE-DE-ESCALATION CLICK HERE
EUROPE BEFORE THE BELL: HEADING FOR AN UGLY OPEN CLICK HERE
PRIME-TIME DISAPPOINTMENT CLICK HERE