Jobs Report, Facebook (FB), Apple (AAPL) and CFP® Harrison Johnson: Inheriting Annuities

Smart Investing with Brent & Chase Wilsey

• Jobs Report

The jobs report blew past the estimate of 150,000 today as nonfarm payrolls grew 467,000 in January. Also, November and December saw a huge revision upward as it totaled 709,000. While I was surprised by the magnitude of the beat, I wasn't surprised to see a good report. We can't forget that employers are still desperate for workers as the job openings in December totaled nearly 11 million which was 4.6 million above the total unemployment level. It's also important to remember that we are continuing to regain jobs that were lost due to the Covid lockdowns. Currently, total employment is still about 1.7 million below where it was in February 2020.

• Facebook

Facebook/Meta lost over $200 billion of market cap this morning because earnings did not please growth investors.

• Apple

Last week Apple reported record numbers and investors cheered the results and pushed the stock up a little more. That enthusiasm may temper going forward as the details of the numbers have come out showing that greater China revenue increased 21% to a record $25.8 billion during the quarter and accounts for approximately 21% of the $124 billion in sales.

• CFP® Harrison Johnson: Inheriting Annuities