A massive jobs report came out on Friday, upending the markets once again.
Whereas consensus estimates were expecting 250,000 jobs, the report came in at 370,000.
The market keeps having to flip from one extreme to another…
For months, inflation and the resulting interest rate hikes from the Federal Reserve have been the main story, a dark cloud hanging over the markets.
Fears of a recession intensified, which was bullish for stocks, as it meant we might be nearing the end of inflation and thus the Fed’s interest rate hikes.
But now, a better-than-expected jobs report has some thinking that maybe we’re not headed towards a recession after all.
As difficult as all of this is to navigate, there’s one chart that’s really keeping me up at night…
It’s no secret that 2022 hasn’t been good for the stock market, but even more so for the Nasdaq. In fact, even after last week’s 5.4% rally, the Nasdaq is down about 26% year to date. That’s a big, BIG number…
Ever since the S&P 500 fell into bear market territory — a 20% drop from a recent all-time high — earlier this week, everyone’s been asking Senior Strategist Roger Scott where the bottom is.
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