2 Stocks To Trade, And What's Next For The Market
By The Oxen Group: Market Recap: The market suffered a slight setback on its second day of May as ADP Employment Change came in weaker than expected and could signal a possible meltdown on Friday when the non-farm payrolls are reported. Factory orders were also released today and came in a bit above expectations at -1.5% vs. -1.8% expectations. Additionally, helping to limit the market's downside was China's HSBC Manufacturing Index that came in above expectations, helping Asian markets to rise. Helping fuel downside was also the fact that European data was weak and raised the dollar vs. the euro. Friday's job report is crucial to the direction of this market moving forward, and we believe that the market will definitely move on the news. The disappointment of a miss will be less with ADP today, but a bad report could spark the "Sell in May" that we are all waiting for.
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