The following is from Hedgeye CEO Keith McCullough:
While Dollar Down on a US #JobsAccelerating report is surprising to a degree, remember that Old Wall Media is painting this jobs report as bad on "slowing wage growth", and that is what it is. #partisan
In the 80% of non-supervisory US workers, private wage growth has accelerated to almost +3.0%.
That's the base of the population that anti-Trump Democrats should be happy for inasmuch they should be elated (for the country) to see NFP jobs growth accelerate by more than it has in 26 months!
But I digress...
And I will not complain because short-term market moves like this are to be capitalized on, not whined about.
Think about all the great buying opportunities we’ve had on higher-beta US stocks for the last 3 months…
On that score, I’m looking forward to shorting more of our favorite EM (Emerging Market) SELL ideas, like Turkey and Mexico (EWW), on any USD correction within our bullish long-term USD view.
