We were warned, by many top economists, that the February jobs report was going to be irrelevant.  The data was collected before the coronavirus outbreak escalated and became a threat to our financial system.  273,000 jobs were added in February while analysts had expected a gain of about 165,000. The unemployment rate fell from 3.6% to 3.5%, matching a 50-year low. Average hourly earnings rose by 0.3 percent the year-over-year gain is now 3 percent.

Chris Rupkey, head economist for MUFG Union Bank, stated Friday morning. “This could be the last perfect employment report the market gets for some time. Net, net, the employment report was nearly perfect in February before the growing economic storm posed by the spreading coronavirus around the country that threatens many industries where the public gathers from movies, to travel, to the airline industry, even shops and malls.”

E-mini S&P 500 Mar ’20 Daily Chart
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Jeff Yasak

Senior Market Strategist

Since leaving the corporate world in 1995, Jeff has established a name for himself as a trusted financial advisor and trading advocate—leveraging his studies in finance from the University of Wisconsin-Madison and Loyola University, 25+ years of experience, and a passion for the industry to guide both novice and experienced traders in pursuit of achieving their own financial reward. Jeff began his career as a clerk in the S&P 500 pit at the Chicago Mercantile Exchange—fostering a deep interest in the options market that eventually drove him into the retail futures sector where he spent several years as a broker’s assistant before taking on clients of his own. Operating at the intersection of strategy and success, Jeff seeks to establish meaningful relationships with clients—synthesizing financial data and offering timely insight that informs critical decision-making surrounding money management and trading activities. Well-versed in the futures, securities, equities, and indices markets, Jeff is uniquely positioned to direct his clients to success. With a carefully cultivated combination of experience and expertise, he is able to connect with clients to better understand their goals and offer sound financial guidance that delivers notable bottom-line results.

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