Photo: Daniel Goodman / Business Insider
Just looking up at the TV, and we see that in the wake of the jobs report, the Dow is off 132 points and that the S&P is off over 1%.So despite the big “miss” on the jobs numbers (Only 115K net net jobs were created in April vs. expectations of 160K), we can only conclude that the report must have been very good!
Well we’ve been hearing that what the market really wants is more QE, and that bad economic news results in positive market performance, because bad economics news improves the odds of more easing.
And so by that logic, if the market is down today, it means that the market must think the odds of QE are lower, and the only reason QE odds would be lower is if the jobs report were good.
Good number = No QE = Stocks down. QED.
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