Investors are anxiously awaiting the September jobs report, which is set to be released on Friday morning. Economists polled by Bloomberg are expecting 150,00 jobs were added in the month.
Ohsung Kwon, US & Canada equity strategist at Bank of America, is expecting 150,000 jobs were added too. “We think that the Goldilocks range for equities, for the jobs market is anywhere between 125 and 175,000. So as long as we stay in that range, which is a pretty solid number, then I think equities and the soft landing narrative can continue,” he tells Yahoo Finance.
He notes that “the jobs market has obviously slowed down, but it’s not falling off a cliff.” Given that the Federal Reserve did an “aggressive” 50 basis point rate cut in September, investors may overlook a slightly softer-than-expected print.
Watch the video above to hear how Kwon is playing the markets now and his outlook for earnings season.
For more expert insight and the latest market action, click here to watch this full episode of Market Domination Overtime.
This post was written by Stephanie Mikulich.
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