The US jobs report was great for jobs but earnings were not so great. You can argue, well earning are coming. You just wait. You can also argue, been saying that for a while now. How are the markets taking it?
The dollar is lower. The EURUSD is trading nearer the highs for the day. It needs to get and stay above the 1.0774 level to kick in more upside. The USDJPY is nearer the lows but it needs to get below the 112.51-56 level.
Keeping the dollar down is the US yields. The 10 year was up at 2.496% at the highs today. We are now trading at 2.437%. The low yield was 2.4242%. The 2.50% level continues to be a tough nut to crack and the dollar is sensitive to interest rates now
The major indices are higher in the first 20 minutes of trading with the S&P up 0.37% or 8.5 points (was as high as +10-11 points). They like jobs and lower inflation (I guess).
Up about $1.00 or 0.07%. It does not know what to do.
There is talk of Dodd-Frank changes which has bank stocks up (and perhaps the overall stock market). Tax talk is also a big ? still. Trump meets with business leaders.
WIld card. WIth the market trying to get a feel for what to do/follow, it is Friday and weekends with Pres. Trump will likely be more risky. So squaring up flows may also rear it's head.