Market Prep: NFP & AVGO earnings
Scanner flow anaylsis, $AVGO, $NOK, $SPX, $NDX, $BTC
Hello Traders,
Huge week for macro data. All eyes are on Friday's jobs report, and we're also watching Broadcom AVGO 0.00%↑ as they report earnings after the bell today.
Further, we’re going to look into Bitcoin and flow around crypto and provide some trade ideas with strong flow.
Let’s start with NFP: Most analysts are circling a number around 60,000 to 70,000 new jobs.
Goldman Sachs: They think the “hiring boom” is over for now. They’re looking for a modest gain (around 60k) and expect hiring to stay pretty flat for the rest of the year. They’re mostly watching to see if the recent drop-off in immigration is finally starting to show up in the data.
J.P. Morgan: They’re a bit more focused on the “slowdown” vibe. They describe the current market as “low hire, low fire”—meaning companies aren’t laying people off in droves, but they aren’t exactly rushing to post new job openings either because they’re worried about where the economy is headed.
The market is in a tough spot right now. If the jobs numbers come in too high, it’s a double-edged sword: it shows the economy is strong, but people will freak out that inflation is making a comeback. We’re basically stuck in a holding pattern. A strong report could send interest rates spiking, while a weak one might scare everyone into 'safe' investments like gold, especially with the war tensions heating up over the weekend.
Now, let's look at the current positioning for AVGO. We’ll also use our scanner to identify related stocks that might catch a move often called 'sympathy trade' based on tonight's results.
