🎙️ PRO: Signal Report

Dear Clients,

This is a signal report after the stronger-than-expected jobs release on Friday.

This report was a best-case scenario for bulls.

Let us explain 👇🏻

— The We Study Markets team

Job Growth of +303K in March Blew Out Estimates

Today’s jobs number was a “best case scenario” for stock market bulls.

Why?

• Many economists came into the job print with an expectation of a “strong number”

• And that is exactly what we got:

• +303k jobs were added vs +214k expected

• This is well above the average (since 2023 start) of +256k/month

• And over double the +125k/month average since 1940

• So when many proclaim the economy is slowing, this suggests otherwise:

S&P 500 Rallying With strong Jobs = Best Case

And the plurality of market participants would have guessed such a strong print would weight on stocks.

Why?

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