JPMorgan outlines five S&P 500 scenarios for April jobs report
Updated
Updated · CNBC · May 7
JPMorgan outlines five S&P 500 scenarios for April jobs report
7 articles · Updated · CNBC · May 7
The bank assigns a 30% probability to payroll growth of 45,000-85,000, versus Dow Jones consensus for 55,000 jobs and 4.3% unemployment after March's 178,000 gain.
It sees the benchmark index ranging from a 1% fall to a 1% rise, with the weakest market reaction tied to payrolls below 5,000 and the strongest gains possible on moderate growth.
JPMorgan economist Michael Feroli expects 50,000 jobs, citing weather and other drags, while ADP reported a stronger-than-expected 109,000 rise in private payrolls, underscoring a low-hire, low-fire labour market.
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