January Jobs Report

In January 200K jobs were created

Harvey, August Job Report Delay Another Rate Hike. See Stockwinners.com Market Radar
In January 200K jobs were created

The U.S. jobs report revealed a solid 200k January payroll gain, following annual revisions that raised the level of December payrolls by 230k, which both exceeded market assumptions, and hourly earnings rose 0.3% to leave a cycle-high 2.9% y/y climb.

Yet, hours-worked posted a January drop-back from upwardly-revised prior levels thanks to a drop in the workweek to 34.3 hours with weakness skewed toward the goods sector that was maybe weather-induced.

Note that those not at work due to weather popped to 496k in January, versus a 331k 10-year average for the month.

For the goods sector, jobs rose by a solid 57k as expected, with gains of 15k for factories, 36k for construction, and 6k for mining, but hours-worked for the goods sector fell 0.5%, with declines of 0.3% for factories, 0.5% for construction, and 0.2% for mining.

Analysts saw big gains of 409k for civilian jobs and 518k for the labor force that left a fourth consecutive 62.7% participation rate.

For annual revisions, analysts saw larger than expected boosts of 230k for December payrolls, 247k for private payrolls, and a 17k downward bump for government.

For the benchmark month last March, analysts saw a 146K SA upward revision and a 138k NSA hike, versus guidance of a smaller 95k NSA boost.

The first question is whether the U.S. economy can maintain a robust pace of monthly job creation this far into the economic cycle. Already, the three- and six-month moving averages for job creation have significantly exceeded the pace that would be expected after impressive prior gains and a steep decline in the unemployment rate.

By contrast, wage growth has continued to run below expectations. In turn, this has limited the household income gains that would normally accrue with the labor market achievements. This may also help to explain why the labor participation rate has not materially edged up from a level that remains uncomfortably near multi-decade lows.


STOCKWINNERS

To read timely stories similar to this, along with money making trade ideas, sign up for a membership to Stockwinners

This article does not constitute investment advice. Each reader is encouraged to consult with his or her individual financial professional and any action a reader takes as a result of information presented here is his or her own responsibility.

MediciNova reports positive MS data

MediciNova’s MN-166 shows positive risk reduction in progressive MS

MediciNova reports positive MS data. Stockwinners.com
MediciNova reports positive MS data

MediciNova (MNOV) announced the presentation of additional positive clinical data from the SPRINT-MS Phase 2b Trial of MN-166 – ibudilast – in progressive multiple sclerosis, conducted through the National Institutes of Health-sponsored NeuroNEXT network.

MN-166 demonstrated a 26% reduction in the risk of confirmed disability progression compared to placebo.

Confirmed disability progression was a secondary endpoint in this Phase 2b trial but would be considered a primary endpoint in Phase 3.

MediciNova’s power analysis has determined that a Phase 3 trial of MN-166 that enrolls approximately 700 subjects will be sufficiently powered to achieve statistical significance for confirmed disability progression.

As reported in October 2017, the SPRINT-MS Phase 2b Trial of MN-166 in progressive MS achieved both primary endpoints. MN-166 (ibudilast) demonstrated a statistically significant 48% reduction in the rate of progression of whole brain atrophy compared to placebo, and demonstrated a favorable safety and tolerability profile.

The most common treatment-emergent adverse events during the study were gastrointestinal adverse events, which occurred with a higher frequency in the MN-166 group, and upper respiratory tract infections, which occurred with a higher frequency in the placebo group.

The MN-166 (ibudilast) portfolio, which includes the Phase 2-staged lead drug compound and proprietary analogs, represents novel, first-in-class, non-opioid drugs for the treatment of drug addiction, progressive multiple sclerosis and pain.

MN-166 is a first-in-class, orally bioavailable, small molecule glial attenuator that suppresses pro-inflammatory cytokines IL-1ß, TNF-a, and IL-6, and may upregulate the anti-inflammatory cytokine IL-10.

MNOV closed at $8.32.


STOCKWINNERS

To read timely stories similar to this, along with money making trade ideas, sign up for a membership to Stockwinners

This article does not constitute investment advice. Each reader is encouraged to consult with his or her individual financial professional and any action a reader takes as a result of information presented here is his or her own responsibility.