The Little Rally That Could Chugs Upward and Onward
Today's financial recap and Monday's financial outlook.
But on the plus side, the December number was revised up to 196K from 155K.
Following the jobs report, the market saw a tiny spike upward followed by a decline.
However, the 10:00 a.m. ET ISM manufacturing numbers were above consensus, driving an impressive stock rally with notable strength in the tech-heavy Nasdaq (INDEXNASDAQ:.IXIC), financials, and small caps. We also saw bonds fall on the news with yields rising steadily into the close.
In earnings, we saw better-than-expected earnings from Exxon Mobil (NYSE:XOM), Merck (NYSE:MRK), and Ingersoll-Rand (NYSE:IR), with misses from Chevron (NYSE:CVX) and Legg Mason (NYSE:LM).
All in all, it was an impressive day, which brought the S&P 500's (INDEXSP:.INX) into positive territory for the week as the little-rally-that-could continues to chug upward and onward.
Monday's Financial Outlook
On Monday, factory orders will be released at 10:00 a.m. ET. In earnings, we'll see reports from HCA (NYSE:HCA), Humana (NYSE:HUM), and Royal Caribbean (NYSE:RCL) before the open, with Anadarko Petroleum (NYSE:APC), Baidu (NASDAQ:BIDU), and Yum Brands (NYSE:YUM) coming after the close.
And on a random note, Research In Motion (NASDAQ:RIMM) will begin trading under the name BlackBerry, with the ticker BRRY.
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