It’s non-farm payrolls time and I’m expecting a good performance from stocks today.
I’m not sure if the headline number will come in higher as analysts are expecting a firm 185k. But I think traders will be watching for any revision to last month’s figure and if we get a good upward revision I can see a real boost for stock markets.
Stock markets are moderately oversold anyway on a short term basis so this will be a good opportunity for a rally today.
In terms of individual stocks, here are the ones I’m looking out for today:
Today’s stock picks
Aaron’s Inc (AAN)
Aarons is a leasing company who are announcing earnings today with an expected EPS of 0.29. The stock has been heavily sold of late but it’s found support at 26.50, hitting this bottom on a number of occassions. I think EPS will come in on target or slightly higher and we’ll see the stock bounce.
Moody’s Corp (MCO)
Ratings agency, Moody’s, is another one to post earnings today and should get caught up in the positive atmosphere of an improving jobs picture. We’ve seen the majority of financial stocks post higher earnings so I think that will be the case for Moody’s too and I think we will hit $80 at some point today.
Broadcom Corp (BRCM)
Broadcom Manufactures networking and communications semiconductors for data, voice, and video applications. The stock chart looks poised for another break to the upside.
Mercer International Inc (MERC)
A canadian stock. Makes today’s stock picks simply because of the enveloping wedge/ triangle pattern. This one will either break strongly to the upside or to the downside. Wait for the catalyst and go with the flow.
Not a long term holding but Snyders-Lance should gain today. The company is heavily beaten up and due for a rebound. Earnings are expected at $0.36 before the open. Buy it pre-market and sell it above $27. By the way I have no idea what they do but finviz.com says they’re involved in processed and packaged goods.