The estimate is for 200,00 jobs added in the month of April. Should it come in hot, people will view that as a sign the Fed will have the runway to reduce the economy to tatters with a June rate hike. Understand something, the only reason why the Fed wants to hike rates is to destroy the economy, at least temporarily.
On the other hand, should the numbers come in too weak, people will view it as a sign that the wheels are truly coming off the chuck-wagon, supported by the large earnings shortfalls from a wide array of companies this quarter.
In other words, damned if you do, damned if you don’t scenarios looms in the immediate term.
Cramer’s take.
My best guess, as always, inexorably lower.
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All hail Le’ Fly and his Earl Grey tea drinking habits! Lower we go!
Serious question: why does the FED want to destroy the economy? I always thought that was a side effect of their incompetance and spinelessness, not a deliberate goal.