NFP is in and its good! The print is 117K which beats the expectations Of 85K. Added ti that the unemployment Rate Down To 9.1%.
The market liked the number and gapped up, but that strength was quickly smacked down by longs looking to exit positions on strength.
Additional numbers from the report:
Change in Non-Farm Payrolls M/M 117K vs. Exp. 85K (Prev. 18K)
Change in Private Payrolls (Jul) M/M 154K vs. Exp. 113K (Prev. 57K)
Change in Manufacturing Payrolls (Jul) M/M 24K vs. Exp. 10K (Prev. 6K)
US Average Hourly Earnings (Jul) M/M 0.4% vs. Exp. 0.2% (Prev. 0.0%)
US Unemployment Rate (Jul) M/M 9.1% vs. Exp. 9.2% (Prev. 9.2%)