While most of us are intuitively aware of the impact that the monthly employment report has on the equity market, Mike Panzner delivers a graphic overview to puts it into perspective:
|Data||Overall Average||On Jobs Report Days|
|Absolute Net Change %||0.77%||0.99%|
|Intraday High-Low Range %||1.36%||1.61%|
|Up Days as a % of Total*||51.06%||56.62%|
* divided by 100 for clarity
on the accompanying chart
Includes data from 1/1/94 through the present
Source: Michael Panzner, Rabo Securities
(Kudos to Mike on getting mentioned in the WSJ’s Ahead Of The Tape column this morn).
The impact of Jobs Data release
Maybe it is only an excuse to shake the market.