Jobs Growth Solid—Stock Market Not

Non-farm payrolls had a slightly down number for the month, a month when Nasdaq dropped 10%

The economy printed some 151K new jobs in February. Meanwhile, the unemployment rate moved up somewhat from 4.011% to 4.139%, a modest move that was driven more by readjustments to those considered within the labor force versus the total employed—this does not represent a shift downward in employment, so much.

The stock market sold off during the day, but recovered by the end of the day to remain flat.

I am taking the opposite position for the coming week because I believe the stock market selling was overblown. The big driver for this was the selling of AI-powered stocks moving lower and tariffs.

Part of the selling was tariffs as well as lack of predictability. Tariffs are now suddenly no longer on. This should bring in relief buying for now.

Within is my strategy for this week and the medium term: