The Labor Department will release December’s non-farm payrolls report on Friday, January 9, but Sam Stovall, U.S. equity strategist at S&P Capital IQ, believes investors are less concerned with the monthly jobs number than they are with Europe and China. In fact, Stovall says he believes inaction on behalf of the European Central Bank on January 22 would do more to rattle our markets than a disappointing jobs number. However, he stresses that investors should not turn a blind eye to the jobs report or other U.S. data. He warns that the one word he is concerned about is ‘decouple.’ Stovall says despite speculation that the U.S. stock market and economy will both continue to do well if the other economies fall into recession, he believes nothing is decoupled in this interlocked global environment.
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