PRO
Dear Clients,
This is a signal report after the stronger-than-expected jobs release on Friday.
This report was a best-case scenario for bulls.
Let us explain 👇🏻
— The We Study Markets team
Job Growth of +303K in March Blew Out Estimates
Today’s jobs number was a “best case scenario” for stock market bulls.
Why?
Many economists came into the job print with an expectation of a “strong number”
And that is exactly what we got:
+303k jobs were added vs +214k expected
This is well above the average (since 2023 start) of +256k/month
And over double the +125k/month average since 1940
So when many proclaim the economy is slowing, this suggests otherwise:
S&P 500 Rallying With strong Jobs = Best Case
And the plurality of market participants would have guessed such a strong print would weight on stocks.
Why?
