Jobs Report, Greek Debt Swap Deliver for Bulls

US stock futures are higher Friday morning after Greece delivered on its crucial debt swap with private creditors. Participation was high enough to trigger collective action clauses, ironing out the final stumbling block before the debt-riddled country can receive its second bailout package.

Also, the US added 227,000 jobs in February, while December and January numbers were revised up by a combined 61,000 jobs. The unemployment rate stayed steady at 8.3%. The non-farm payrolls number came in higher than expected, and reinforces the idea that the US economy is gaining steam.

Stocks fell sharply at the beginning of the week, but once again showed resilience in 2012 by erasing those gains in only two days. With today’s up open it will be interesting to see how far this snap back can take us. It would be natural to see some consolidation at these upper levels again before we potentially break to new highs.

Disclosures: Scott Redler is long LNKD, DNKN, YNDX. Short SPY.

About Scott Redler 367 Articles

Scott Redler is the Chief Strategic Officer of T3 Live. He develops all trading strategies for the service and acts as the face of T3 Live. Mr. Redler focuses on thorough preparation and discipline as a trader.

Mr. Redler has been trading equities for more than 10 years and has more recently received widespread recognition from the financial community for his insightful, pragmatic approach. He began his career as a broker and venture capitalist where he was able to facilitate relationships that led him into trading. Beginning his trading career at Broadway Trading in 1999, Mr. Redler moved on with Marc Sperling to Sperling Enterprises, LLC after establishing himself as one of the best young traders in the firm. As a manager at Sperling Enterprises, continued to trade actively while working closely with all traders in the firm to dramatically increase performance.

Mr. Redler has participated in more than 30 triathlons and one IronMan, exhibiting a work ethic that also defines his trading. His vast knowledge and meticulous attention to detail has led to regular appearances on CNBC, Fox Business, Bloomberg, and he is a regular contributor to Minyanville and Forbes’ Intelligent Investing blog. He has been quoted in the Wall Street Journal and Investor's Business Daily, among other publications.

Scott received a B.B.A. in Marketing/Finance from the State University of New York at Albany, graduating Magna Cum Laude from Albany's School of Business.

Visit: T3Live

Be the first to comment

Leave a Reply

Your email address will not be published.


*