The unemployment numbers just came out, and it was another gift for the bulls: weakness. The job growth was much weaker than expected, and the unemployment rate is creeping up. The logic here, of course, is that this lameness will provide political cover for Powell to issue a cut in interest rates to provide a boost to the current administration. Market historians will acknowledge that every major recession kicks off with the Fed cutting rates, because they need to do that in order to goose the economy. It doesn’t matter now, though, because the markets are raging on the news.