Job consensus was -85,000. Actual -20,000. Futures spiking higher. February revised down, but not much. Fed announces new liquidity infusion. All supports theory that economy not as bad as expected, doom-and-gloom overdone, Fed saved day, off to the races again.
Hope so, but not yet persuaded. Hard to see how consumer spending recovers with housing still tanking. Deceleration in housing decline will certainly help, but we haven’t seen that yet. Major trends usually last longer than people think, on both up and downside.
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