The Employment Situation
The most important economic indicator by far is the monthly Employment Situation report published by the Bureau of Labor Statistics (BLS). No economic release can move stocks and bonds like employment data, and no indicator is more revealing of general economic conditions than labor-market data. This is why the first Friday of every month, when the Employment Situation report is released, is the most important trading session of the month.
The fixed-income market often moves violently, in a matter of seconds, after the employment report is released. The Dow Jones Industrial Average has on occasion opened up or down from the previous day’s close by a couple hundred points (stocks begin trading an hour after the ...