Wall Street Stunned!

This morning’s May BLS employment report delivered a jobs number that was way less than expected by economists who follow this stuff for a living. Like, more than 100,000 jobs off of the consensus expectation.

Wall Street is stunned!

But aren’t they always? You could start a publication and run the same headline every week about new developments – Wall Street Stunned! – and you’d still be fairly accurate as a chronicler of what’s going on.

The stock market refuses to play into the hands of the hysterics. The Dow is off less than 100 points as of this writing. Expectations for a June or July rate hike from the Fed have fallen through the floor. If the data flow gets stronger in the coming weeks, rate hike expectations will go right back up. Fed Funds futures are not prophetic. Traders are not precogs.

None of this expectations-setting process is science. Wall Street is always stunned by this or that development.

A roundup of reactions from The Street here, courtesy of Business Insider.

This content, which contains security-related opinions and/or information, is provided for informational purposes only and should not be relied upon in any manner as professional advice, or an endorsement of any practices, products or services. There can be no guarantees or assurances that the views expressed here will be applicable for any particular facts or circumstances, and should not be relied upon in any manner. You should consult your own advisers as to legal, business, tax, and other related matters concerning any investment.

The commentary in this “post” (including any related blog, podcasts, videos, and social media) reflects the personal opinions, viewpoints, and analyses of the Ritholtz Wealth Management employees providing such comments, and should not be regarded the views of Ritholtz Wealth Management LLC. or its respective affiliates or as a description of advisory services provided by Ritholtz Wealth Management or performance returns of any Ritholtz Wealth Management Investments client.

References to any securities or digital assets, or performance data, are for illustrative purposes only and do not constitute an investment recommendation or offer to provide investment advisory services. Charts and graphs provided within are for informational purposes solely and should not be relied upon when making any investment decision. Past performance is not indicative of future results. The content speaks only as of the date indicated. Any projections, estimates, forecasts, targets, prospects, and/or opinions expressed in these materials are subject to change without notice and may differ or be contrary to opinions expressed by others.

Wealthcast Media, an affiliate of Ritholtz Wealth Management, receives payment from various entities for advertisements in affiliated podcasts, blogs and emails. Inclusion of such advertisements does not constitute or imply endorsement, sponsorship or recommendation thereof, or any affiliation therewith, by the Content Creator or by Ritholtz Wealth Management or any of its employees. Investments in securities involve the risk of loss. For additional advertisement disclaimers see here: https://www.ritholtzwealth.com/advertising-disclaimers

Please see disclosures here.

What's been said:

Discussions found on the web
  1. course here commented on Sep 20

    … [Trackback]

    […] There you can find 86778 more Information to that Topic: thereformedbroker.com/2016/06/03/wall-street-stunned/ […]

  2. Making Money Online commented on Sep 23

    … [Trackback]

    […] Find More Info here on that Topic: thereformedbroker.com/2016/06/03/wall-street-stunned/ […]

  3. Quality Engineering - QE commented on Nov 11

    … [Trackback]

    […] Read More to that Topic: thereformedbroker.com/2016/06/03/wall-street-stunned/ […]

  4. easyweb td bank login commented on Dec 15

    … [Trackback]

    […] Read More on to that Topic: thereformedbroker.com/2016/06/03/wall-street-stunned/ […]

  5. diamond paintings commented on Dec 29

    … [Trackback]

    […] Find More here to that Topic: thereformedbroker.com/2016/06/03/wall-street-stunned/ […]

  6. AEG L7347EXFL manuals commented on Jan 21

    … [Trackback]

    […] Find More on on that Topic: thereformedbroker.com/2016/06/03/wall-street-stunned/ […]

  7. national bank financial commented on Jan 26

    … [Trackback]

    […] Read More Info here to that Topic: thereformedbroker.com/2016/06/03/wall-street-stunned/ […]