Peachy Employment Report — Nick Santiago 12-2-22 #444

Source:
https://www.spreaker.com/user/appeal2/nick-444

1. The non-farm payroll report was released today. The BLS tells us that 263,000 news jobs were added. The expectations for new jobs were just 200,000 so this was slightly better than expected. I have not heard anyone talk about seasonality hiring due to the holidays. So I'm not so sure this is that great of a report, but that is my opinion.

2. Oil has been ticking higher again today. Earlier from Reuters, it was reported that OPEC + would keep current output targets, but would not rule out more production cuts. Oil is looking good right now, but still has lots of resistance around the $90.00 level. 

3. Nat gas is a little weaker today, but it really needs to consolidate inthe $6.00 range before making another move higher. 

4. Gold futures (GC) are pulling back today after surging yesterday. Gold still looks strong in the short term so it may need to consolidate a little before moving higher. 

5. Bitcoin futures are basically flat today. It is currently holding the 16,800 level, but the chart remains weak and a decline below 12,000 is on the horizon according to the larger time-frame charts.