Stock Market Update

The stock market is on track for a higher opening following an encouraging January Employment Situation Report.

For the month of January, the indicators—payrolls, unemployment rate, average hourly earnings, and average workweek—all contained positive surprises.

The key takeaway from the report is that it is a positive sign for the U.S. growth outlook, yet it may come with the cost of foregoing an additional rate cut by the Fed, at least in the near future.