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Note: Unless otherwise specified, currency amounts described in this article are in U.S. dollars, and government references are to the U.S. government.

Fed minutes spook equities and treasury markets; payrolls disappoint.

Important Disclosures:

Options carry a high level of risk and are not suitable for all investors. Certain requirements must be met to trade options through Schwab. With long options, investors may lose 100% of funds invested. Multiple leg options strategies will involve multiple commissions. Protective puts increase your cost basis in the underlying security. Please read the options disclosure document titled "Characteristics and Risks of Standardized Options."

All stock and option symbols and market data shown above are for illustrative purposes only and are not a recommendation, offer to sell, or a solicitation of an offer to buy any security. Past performance should not be construed as indicative of future results.

Multi-leg options strategies will involve multiple commissions. Spread trading must be done in a margin account. Covered calls provide downside protection only to the extent of the premium received and limit upside potential to the strike price plus premium received. Commissions, taxes and transaction costs are not included in the examples used in this discussion, but can affect final outcome and should be considered. Please contact a tax advisor for the tax implications involved in these strategies.

Schwab does not recommend the use of technical analysis as a sole means of investment research. The information presented does not consider your particular investment objectives or financial situation (including taxes), and does not make personalized recommendations.

Please note that this content was created as of the specific date indicated and reflects the author’s views as of that date. It will be kept solely for historical purposes, and the author's opinions may change, without notice, in reaction to shifting economic, business, and other conditions. Indexes are unmanaged, do not incur management fees, costs and expenses, and cannot be invested in directly. Any opinions expressed herein are subject to change without notice.

Please contact a tax advisor for the tax implications involved in the strategies referenced in this article. Supporting documentation for any claims or statistical information is available upon request. Futures trading carries a high level of risk and is not suitable for all investors. Past performance is no guarantee of future results.

Investing involves risks, including loss of principal. Hedging and protective strategies generally involve additional costs and do not assure a profit or guarantee against loss. Data contained herein from third party providers is obtained from what are considered reliable sources. However, its accuracy, completeness or reliability cannot be guaranteed.

All references to subjects (securities, indexes, futures contracts, and options contracts) were derived based on screens conducted by the writer for certain anomalous activity such as volumes, volatility and other related market data. As needed for brevity, the writer may have applied discretion when choosing among screen outputs for inclusion. Such discretion may have been based on news reports or other considerations of public interest. The views or opinions are those of the writer, and are subject to change without notice. All referenced subjects were chosen for illustrative purposes only and should not be considered recommendations, offers to sell, or solicitations of offers to purchase.

Commodity-related products, including futures, carry a high level of risk and are not suitable for all investors. Commodity-related products may be extremely volatile, illiquid and can be significantly affected by underlying commodity prices, world events, import controls, worldwide competition, government regulations, and economic conditions, regardless of the length of time shares are held. Investments in commodity-related products may subject the fund to significantly greater volatility than investments in traditional securities and involve substantial risks, including risk of loss of a significant portion of their principal value.

Digital currencies are highly volatile and not backed by any central bank or government. Digital currencies lack many of the regulations and consumer protections that legal-tender currencies and regulated securities have. Due to the high level of risk, investors should view cryptocurrency as a purely speculative instrument. Virtual Currency Derivatives trading involves unique and potentially significant risks. Please read NFA Investor Advisory – Futures on Virtual Currencies Including Bitcoin and CFTC Customer Advisory: Understand the Risk of Virtual Currency Trading. CS & Co. is a member of NFA and is subject to NFA’s regulatory oversight and examinations. However, you should be aware that NFA does not have regulatory oversight authority over underlying or spot virtual currency products or transactions or virtual currency exchanges, custodians, or markets.

The policy analysis provided by the Charles Schwab & Co., Inc., does not constitute and should not be interpreted as an endorsement of any political party. The information provided here is for general informational purposes only. The investment strategies mentioned here may not be suitable for everyone. Each investor needs to review an investment strategy for his or her own particular situation before making any investment decision.

The Global Industry Classification Standard (GICS) was developed by and is the exclusive property of Morgan Stanley Capital International Inc. (MSCI) and Standard & Poor's. GICS is a service mark of MSCI and S&P and has been licensed for use by Charles Schwab & Co., Inc. Index used for the 11 market sectors.

The S&P 500 Index is a market-capitalization-weighted index comprising 500 widely traded stocks chosen for market size, liquidity and industry group representation. The NASDAQ Composite Index is a broad-based market-capitalization weighted index of 2,630 stocks in all three NASDAQ tiers: Global Select, Global Market and Capital Market. The Dow Jones Industrial Average is a price-weighted index of 30 stocks compiled by Dow Jones as a way to gauge the performance of the industrial component of America’s stock markets. The Russell 2000 Index is a market-capitalization-weighted index comprised of the smallest 2000 companies in the Russell 3000 Index, representing approximately 8% of the Russell 3000 total market capitalization.

Schwab Center for Financial Research (“SCFR”) is a division of Charles Schwab & Co., Inc.

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Not all products, services, or investments are available in all countries. Nothing on this website is intended for residents of a particular country, nor is the information provided an offer to sell or a solicitation of an offer to buy securities, products or services, by any person or entity in any jurisdiction or country where such distribution or use would be contrary to local law or regulation.

Investing in U.S. securities is not without risk. Investment returns will fluctuate and are subject to market volatility, so that an investor's shares, when redeemed or sold, may be worth more or less than their original cost.

Charles Schwab SG Pte. Ltd. (Reg. No. 200902152D) holder of a capital markets services license issued by the Monetary Authority of Singapore and an Exempt Financial Adviser as defined in the Financial Advisers Act, does not provide tax, legal or investment advice or recommendations. Content and tools are provided for educational and informational purposes only. Services offered in Singapore are provided by Charles Schwab SG Pte. Ltd. and nothing in the published material is an offer or solicitation to conduct business in any other jurisdiction.

Charles Schwab SG Pte. Ltd. trading as Charles Schwab Singapore.

This advertisement has not been reviewed by the Monetary Authority of Singapore.

For Accredited Investor Clients: Your account relationship is with Charles Schwab & Co., Inc. (Member FINRA/SIPC) and, when applicable, Charles Schwab Futures & Forex, LLC., for securities and futures respectively, and all are subsidiaries of The Charles Schwab Corporation. You may receive communications or material directly from these providers.

For Retail Clients: Your account relationship is with Charles Schwab SG Pte. Ltd. (Reg. No. 200902152D) holder of a capital markets services license issued by the Monetary Authority of Singapore and an Exempt Financial Adviser as defined in the Financial Advisers Act, for all services provided to you. Charles Schwab SG Pte. Ltd, trading as Charles Schwab Singapore, outsources its clearing, execution and custody functions and services to Charles Schwab & Co., Inc. and Charles Schwab Futures & Forex, LLC. (Collectively referred to as "Outsource Service Providers") for securities and futures, respectively. You may receive communications or material directly from our Outsource Service Providers; however, for all queries, please contact Charles Schwab Singapore.

Access to Electronic Services may be limited or unavailable during periods of peak demand, market volatility, systems upgrade, maintenance, or for other reasons.

Charles Schwab SG Pte. Ltd., Charles Schwab & Co., Inc. (Member SIPC) and Charles Schwab Futures & Forex LLC., are separate but affiliated companies and subsidiaries of The Charles Schwab Corporation and does not provide tax, legal or investment advice or recommendations. Content and tools are provided for educational and informational purposes only. Nothing herein is an offer or solicitation of securities, products and services by Charles Schwab SG Pte. Ltd., Charles Schwab & Co., Inc. or Charles Schwab Futures & Forex LLC., in any jurisdiction where their offer or sale is not qualified or exempt from registration.

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