Beat the street: jobs; NVIDIA; Apple; Boeing

(Partial Video Transcript)

NFPs: it’s Goldilocks all over again!

Hello, I'm Angeline Ong, and welcome to beat the street, the show that gives you all the tradeable news and data you need ahead of the Wall Street Open. Coming up, non-farm payrolls (NFPs): will this jobs report be too cold, too hot, or just right?

And diversifying:NVIDIA and Apple both look to change up their manufacturing base even further. And from the skies, Boeing signals of a two-month delay to its 737 production ramp-up is in sight, say sources. We'll have a look at what implications that has on its shares.

Now, good afternoon, I'm Angeline Ong, and welcome to this new edition of beat the street. Not long now before Wall Street starts trading, and we just got those numbers out for you, the NFPs.

Private payrolls in line with expectations

For the month of November, we were looking out for 180,000, we got 199,000 instead. Private payrolls pretty much bang in line with expectations, 153,000 expected, we got 150,000.

But it's actually the average earnings that's actually probably more interesting. For the month of November, month-on-month, we were expecting 0.3%, we got slightly above that, 0.4%. And for the year-on-year figure, 4%, bang in line with expectations.

The unemployment rate, also close to what was expected, coming in at 3.7%. Let's cross live to Axel Rudolph now, who's been watching the reaction for us.

AO: Some early thoughts, Axel?

AR: Well, the number came in much, much stronger than we expected with regards to NFPs. And you can see the effect of that on the one-minute euro-dollar chart. So the US dollar actually strengthening on that strong jobs data.

And interestingly enough, once again, earlier this week, Jolt's number and also ADP number didn't give us a good indication of what the non-farm payrolls number would be, because those actually came in lower than expected, whereas here we have a much higher number, as you just said, Angeline, 199,000 compared to a forecast of $184,000, I believe.

So, on that euro-dollar coming off, what is interesting from a technical perspective, if you look at the daily chart, we are actually in the process of falling through minor support, which has held the currency pair for the last two days, as you can see here, going back to the early November high at $107.56.

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