Folks are already speculating on whether the Fed will raise rates again at their next meeting in March. The last we heard from any board member prior to the holidays was a call for measured increases in 2016. However, with another early market closure in China yesterday (which is our today), that probability for raising rates in March decreased from 56% a week ago to 43% today. That’s a large change many people’s perceptions in a week’s time.
The Jobs Report comes out tomorrow. Ahead of it we have a 27.6% decrease in layoffs, but a 24% increase in new people filing for unemployment last week.