- GRIT
- Posts
- All Eyes On Jobs Report
All Eyes On Jobs Report
What To Watch...
![Grit Logo](https://media.beehiiv.com/cdn-cgi/image/fit=scale-down,format=auto,onerror=redirect,quality=80/uploads/asset/file/510b0cb2-899b-4e97-88ea-32dd4b5c8d10/Grit_logo_b_g.png?t=1696389805)
Hi Everyone 👋,
Welcome to our Sunday newsletter! Here’s what we’re discussing this week:
GRIT’s BIG News of the Week:
Hottest News This Week 👉 Jobs Report
Matt Allen’s Corner 👉 Henry Ford and Charcoal
Comin’ Up 👉 EARNINGS AND ECONOMIC DATA
![](https://media.beehiiv.com/cdn-cgi/image/fit=scale-down,format=auto,onerror=redirect,quality=80/uploads/asset/file/a800ba8d-f3f3-4ea7-a1b5-b5dceecced00/Greed_and_Fear_Index_Graphic__1_.png?t=1717366033)
1. Hottest News This Week
All Eyes On Jobs Report
📣 Jobs Report
Investors are eagerly awaiting Friday's jobs report for clues about potential interest rate cuts before next week’s Federal Open Market Committee (FOMC) meeting. In April, only 175,000 jobs were added, and the unemployment rate rose to 3.9%, suggesting that inflation might be easing. Recent inflation data has made the Fed cautious about rate cuts, despite earlier predictions of up to three cuts this year. However, a weak jobs report could change that. Investors will also watch Monday's ISM and S&P manufacturing PMI and Wednesday's service-sector PMI for insights on inflation and GDP.
📣 Monthly Recap
The Dow Jones Industrial Average jumped on Friday for its best session of the year, ending a strong month after the Federal Reserve’s inflation measure met expectations.
Dow: Rose 574.84 points (1.51%) to 38,686.32, boosted by Salesforce (+7.5%) and UnitedHealth (+2.8%).
S&P 500: Up 0.80% to 5,277.51.
Nasdaq: Slightly down by 0.01% to 16,735.02 due to drops in Nvidia and other big tech stocks.
The S&P 500 and Nasdaq ended five-week winning streaks, falling 0.51% and 1.1%, respectively. The Dow fell 0.98%, marking its second straight week of losses. Despite this, May was a strong month with the Dow up 2.3%, the S&P 500 up 4.8%, and the Nasdaq up 6.88%, its best month since November.
Nvidia led the way with a nearly 27% rise in May, despite a slight drop on Friday. Tesla and Netflix also pulled back on Friday, impacting the tech-heavy Nasdaq.
2. Matt Allen’s Corner
Henry Ford and Charcoal
Hi Everyone! This week, we are discussing an invention of Henry Ford.
When we think of Henry Ford, the first thing that comes to mind is the iconic Model T and the revolution of the automobile industry. However, not many know that Ford's innovative spirit extended far beyond cars. In fact, he played a pivotal role in founding an entirely different industry: charcoal briquettes.
The story begins in the early 20th century, when Henry Ford was producing cars at an unprecedented rate. The Model T's assembly line was a marvel of efficiency, but it also generated a significant amount of wood scraps from the production of the cars' wooden parts. Always the astute businessman, Ford hated to see these materials go to waste.
Ford's vision for sustainability and maximizing resources led him to explore ways to repurpose these wood scraps. Enter E.G. Kingsford, a timberland owner and relative of Ford. Kingsford suggested that the wood scraps could be used to produce charcoal, a concept that intrigued Ford. Together, they began experimenting with the idea.
![](https://media.beehiiv.com/cdn-cgi/image/fit=scale-down,format=auto,onerror=redirect,quality=80/uploads/asset/file/bbba40a3-7b66-479d-b4c6-3d47c00d34a4/maxresdefault.jpeg?t=1717365377)
Source: Youtube
Ford and Kingsford refined the process, turning wood scraps into charcoal briquettes by burning them in an oxygen-controlled environment and then compressing the resulting charcoal powder into small, uniform briquettes. This method not only created a useful product but also addressed the issue of waste from Ford's factories.
In 1921, the Ford Charcoal Company was established, and the product was marketed as "Ford Briquettes." The idea was revolutionary: these briquettes were perfect for backyard grilling, a pastime that was growing in popularity across America. With the might of Ford's marketing machine behind it, the briquettes quickly gained traction.
Eventually, the charcoal business outgrew its origins as a side project for Ford's automobile empire. The company was later renamed Kingsford in honor of E.G. Kingsford, and it remains one of the leading charcoal brands today.
Cheers,
Matt Allen
![](https://media.beehiiv.com/cdn-cgi/image/fit=scale-down,format=auto,onerror=redirect,quality=80/uploads/asset/file/df2fea64-23ee-4514-a015-a7e7f7558cd3/Untitled_design.png?t=1705871387)
3. Comin’ Up
EARNINGS AND ECONOMIC DATA
💰 Earnings:
Monday: GitLab, Nordic
Tuesday: CrowdStrike, HP, Bath & Body Works
Wednesday: Lululemon, Dollar Tree, Campbell Soup
Thursday: Autodesk, NIO, DocuSign
Friday: Graham Corporation
📈 Major Economic Events:
Monday: ISM
Tuesday: Factory Orders, Job Openings
Wednesday: ADP Employment
Thursday: Initial Jobless Claims
Friday: U.S. Jobs Report
Stay the course…. Changing your strategy at the wrong time can be the single most devastating mistake you can make as an investor.”
Paul Samuelson
The author of this newsletter owns ETF’s (exchange traded funds) that may hold ownership interests in the companies discussed in this newsletter as of the published date of this newsletter.
Disclaimer: Grit is a publisher of financial information, not an investment advisor. Grit does not provide personalized or individualized investment advice or information that is tailored to the needs of any particular recipient. Grit does not guarantee the accuracy or completeness of the information provided in this page. All statements and expressions herein are the sole opinion of the author or paid advertiser.
THE INFORMATION CONTAINED ON THIS WEBSITE IS NOT AND SHOULD NOT BE CONSTRUED AS INVESTMENT ADVICE, AND DOES NOT PURPORT TO BE AND DOES NOT EXPRESS ANY OPINION AS TO THE PRICE AT WHICH THE SECURITIES OF ANY COMPANY MAY TRADE AT ANY TIME. THE INFORMATION AND OPINIONS PROVIDED HEREIN SHOULD NOT BE TAKEN AS SPECIFIC ADVICE ON THE MERITS OF ANY INVESTMENT DECISION. INVESTORS SHOULD MAKE THEIR OWN INVESTIGATION AND DECISIONS REGARDING THE PROSPECTS OF ANY COMPANY DISCUSSED HEREIN BASED ON SUCH INVESTORS’ OWN REVIEW OF PUBLICLY AVAILABLE INFORMATION AND SHOULD NOT RELY ON THE INFORMATION CONTAINED HEREIN. INVESTORS SHOULD OBTAIN INDIVIDUAL INVESTMENT ADVICE BASED ON THEIR OWN CIRCUMSTANCES BEFORE MAKING AN INVESTMENT DECISION
No statement or expression of opinion, or any other matter herein, directly or indirectly, is an offer or the solicitation of an offer to buy or sell the securities or financial instruments mentioned.
The author, publisher or insiders of the publisher may currently have long or short positions in the securities of the companies mentioned herein, or may have such a position in the future (and therefore may profit from fluctuations in the trading price of the securities). To the extent such persons do have such positions, there is no guarantee that such persons will maintain such positions.
Any projections, market outlooks or estimates herein are forward looking statements and are inherently unreliable. They are based upon certain assumptions and should not be construed to be indicative of the actual events that will occur. Other events that were not taken into account may occur and may significantly affect the returns or performance of the securities discussed herein. The information provided herein is based on matters as they exist as of the date of preparation and not as of any future date, and Grit undertakes no obligation to correct, update or revise the information in this document or to otherwise provide any additional material.
Grit does not accept any liability whatsoever for any direct or consequential loss howsoever arising, directly or indirectly, from any use of the information contained herein.
By using the Site or any related social media account, you are indicating your consent and agreement to this disclaimer and our terms of use. Unauthorized reproduction of this newsletter or its contents by photocopy, facsimile or any other means is illegal and punishable by law.
Please read: Terms of Use, Privacy Policy, Disclosure Policy, State Disclosure Policy, and Disclaimer Policy
If you have any questions please contact us at info@gritcap.io
Reply