As long as the Labor Departmentemployment report indicates that more than 200,000 new jobs were created last month, the stock market looks has growth potential ahead. But too good a number could raise additional worries, one analyst said.
“What the market doesn’t like is surprises,” Bespoke Investment Group cofounder Paul Hickey said Thursday on “Fast Money.” “Individual investors are very shell-shocked still.”
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Consensus expectations are awaiting word of 210,000 new private-sector jobs on Friday, but Hickey offered a caveat.
Too high a number and investors might start to worry “that the Fed’s going to come in and end the party a little early,” he said. “We need steady growth and slow improvement.”
Hickey said he expected the report to show a sixth straight month of falling unemployment.
“Just looking at the numbers, it looks doable,” he said.
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Trader disclosure: On March 8, 2012, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s "Fast Money" were owned by the "Fast Money" traders: Adami owns Citigroup; Adami owns (GS); Adami owns (INTC); Adami owns (AGU); Adami owns (MSFT); Adami owns (NUE); Adami owns (BTU); Kelly is long (TLT); Kelly is long (SMH); Kelly is long (IWM); Kelly is long (USG); Kelly is long (EWY); Kelly is short (EWY); Kelly is short (EWA); Kelly is short (EWH); Seymour is long (AAPL); Seymour is long (BAC); Seymour is long (INTC); Seymour is long (CSCO); Seymour is long (SBUX); Seymour is long (FCX); Nations is long (BAC); Nations is long (DE); Nations is long Citigroup; Black’s fund owns (TEVA); Black’s fund owns (MYL); Black’s fund owns (MCK); Black’s fund owns (AGU); Black’s fund owns (DE); Black’s fund owns (POT);
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