Joel Elconin – Recapping August Market Volatility, Jobs Data and Oil’s Break To Highs For The Year
Joel Elconin, Co-Host of the Benzinga PreMarket Prep Show and Editor of the PreMarket Prep website joins me to recap the market moves in August and the jobs data from this morning.
Starting with the payrolls data, which on a net basis was weaker than expected, and how this carries over to market moves. As Joel points out, the key question is if bad data is good for the markets.
For US markets we recap the weak start to August and rebound in the last 2 weeks of the month. Overall the markets closed the month lower which broke a 5 month winning streak. We also look to the oil sector that has broken to a high for the year driven by China’s continued monetary easing.