Morning Thoughs

The July jobs data was pretty close to expectations:

July Average Hourly Earnings m/m +0.3% vs +0.3% consensus; y/y +3.4% vs +3.4% consensus
July Nonfarm Payroll -51K vs -75K consensus, prior revised to -51K from -62K
July Unemployment Rate 5.7% vs. 5.6% consensus; prior 5.5%

This is a positive for the market. Job losses aren't a good thing, but negative surprises are even worse. It's all about expectations. Anyway, let's talk stocks.

Yesterday after the close, Dolby Laboratories (DLB) and thinkorswim (SWIM) both reported blockbuster Q2 earnings and both are trading up sharply this morning. I'm looking for a favorable entry point in thinkorswim, which I believe has the potential to trade significantly higher. I wish they weren't in investor education as the brokerage side of the business is a true powerhouse, but nonetheless the stock could rocket in a healthy market.