The monthly jobs report came out, and it’s just what the bulls wanted to see: weakening earnings growth, and a growing unemployment rate. They also hacked away about 150,000 job “gains” from a month ago that don’t really exist, which evidently is a habit of our government.
Stocks vaulted to lifetime highs (a daily occurrence), although just before the open, as I’m typing this, the gains are fading a bit.
This fade is even more pronounced with gold, which just about round-tripped the entire exercise in short order. Bitcoin, not shown here, is approaching lifetime highs, and it is holding its own gains.
Naturally, with this important data point behind us, VIX is slipped toward the barely prepubescent levels which are so typical of this “market.”
My followers on x.com, a bearish group by definition, are even declaring that, in all likelihood, NVDA will go ahead and do the deed today.
