Jobs Report Bears Signs of Being Market Pivot Point
Author: Tomi Kilgore</br></br>The government's February payrolls report looks like it might finally be the game-changer that Wall Street has been waiting for.</br></br>Investors have been skittish in recent weeks as Mideast turmoil and fluctuations in oil prices assaulted hopes that the U.S. economy is on the cusp of self-sustained growth. Major stock indexes responded by falling hard last week and powering back in recent days, indicating the market appears to have reached a crossroads.</br></br>"The current pattern is a tug-of-war between the bull trend of the past three months and the possibility of a correction," said RBC Wealth Management technical analyst Bob Dickey.</br></br>The highly anticipated data from the Department of Labor, scheduled to be released at 8:30 a.m. New York time today, could give bulls and bears alike the cues they have been waiting for. Investors rallied ahead of the report with Thursday's near-200-point jump in the Dow Jones Industrial Average, with some betting the report might beat projections after a string of disappointing monthly reports.