February 3, 2022 Headlines

Futures markets are pointing to an ugly start for U.S. stocks, particularly the technology sector. The NASDAQ is poised to fall more than 2% following disappointing earnings reports and forecasts for tech giants like Meta and Qualcomm. Meta, the parent to Facebook, plunged 22% overnight, the equivalent of $195 billion of market value. If that loss held, it would be the biggest single-day collapse in market value for a U.S. company, eclipsing the $180 billion lost by Apple on September 3, 2020. Treasury yields are 2-3 basis points higher after the Bank of England (BoE) announced an expected 0.25% rate hike. Four of the nine-member BoE panel wanted a 0.5% hike, which would have been the largest single-meeting since 1997 when the bank became independent from the government. The European Central Bank (ECB) chose to keep rates unchanged, and in the post-meeting press conference, ECB President Lagarde continued to suggest a 2022 rate hike will not be necessary for the Eurozone.

Jason Haley
Chief Investment Officer

2/3/2022Challenger Job Cuts YoY-76.00%-75.30%
2/3/2022Nonfarm Productivity3.90%6.60%-5.20%-5.00%
2/3/2022Unit Labor Costs1.00%0.30%9.60%9.30%
2/3/2022Initial Jobless Claims245k238k260k261k
2/3/2022Continuing Claims1620k1628k1675k1672k
2/3/2022Markit US Services PMI50.950.9
2/3/2022Markit US Composite PMI50.850.8
2/3/2022ISM Services Index59.56262.3
2/3/2022Factory Orders-0.40%1.60%
2/3/2022Factory Orders Ex Trans0.40%0.80%
2/3/2022Durable Goods Orders-0.90%-0.90%
2/3/2022Durables Ex Transportation0.40%
2/3/2022Cap Goods Orders Nondef Ex Air0.00%
2/3/2022Cap Goods Ship Nondef Ex Air1.30%
2/4/2022Two-Month Payroll Net Revision
2/4/2022Revisions: Employment Report – Establishment Survey
2/4/2022Change in Nonfarm Payrolls150k199k
2/4/2022Change in Private Payrolls80k211k
2/4/2022Change in Manufact. Payrolls20k26k
2/4/2022Unemployment Rate3.90%3.90%
2/4/2022Average Hourly Earnings MoM0.50%0.60%
2/4/2022Average Hourly Earnings YoY5.20%4.70%
2/4/2022Average Weekly Hours All Employees34.734.7
2/4/2022Labor Force Participation Rate61.90%61.90%
2/4/2022Underemployment Rate7.30%


Subscribe Today!

Subscribe to our email list and get the latest articles and announcements from ALM First.

Recent Articles

ALM First offers investment advisory services through ALM First Financial Advisors, LLC, which is registered with the U.S. Securities and Exchange Commission (“SEC”). SEC registration does not constitute an endorsement of the firm by the SEC nor does it indicate that the firm has attained a particular level of skill or ability. The information contained herein does not constitute investment advice or a recommendation for you to purchase or sell any specific security. You are solely responsible for reviewing the content and for any actions you take or choose not to take based on your review of such content.Information contained herein was derived from third party sources as indicated. While such information is believed to be reliable, no representation or warranty is made concerning the accuracy of any information presented. We have not and will not independently verify this information. Where such sources include opinions and projections, such opinions and projections should be ascribed only to the applicable third party source and not to ALM First.Statements herein that reflect projections or expectations of future financial or economic performance are forward-looking statements. Such “forward-looking” statements are based on various assumptions, which assumptions may not prove to be correct. Accordingly, there can be no assurance that such assumptions and statements will accurately predict future events or actual performance. No representation or warranty can be given that the estimates, opinions or assumptions made herein will prove to be accurate. Any projections and forward-looking statements included herein should be considered speculative and are qualified in their entirety by the information and risks disclosed in the confidential offering document. Actual results for any period may or may not approximate such forward-looking statements. No representations or warranties whatsoever are made by ALM First Financial Advisors, LLC or any other person or entity as to the future profitability of investments recommended by ALM First Financial Advisors, LLC.