2017 Economic Calendar
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Market Reflections  

February 3, 2017
The January employment report has the best of both worlds -- strong job growth and slowing wage pressure. The results, headlined by a 227,000 gain in nonfarm payrolls and only a 0.1 percent rise for average hourly earnings, push back the need for monetary restraint and point to an extension of job growth ahead.

Stocks rallied sharply on the news with the Dow up 0.9 percent and back over 20,000 at 20,071. Reaction, however, was modest in other markets with rates and the dollar little changed.

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