Market Euphoria About Jobs Report Has Already Ebbed
NEW YORK ( TheStreet) -- Investor euphoria for February's employment report already may have ebbed.
Stock futures popped and the market spiked Friday morning at the opening bell after nonfarm payrolls for February surged 236,000, up from the prior month's revised 119,000 jobs. Economists were looking for just 160,000.
Less than an hour into the trading session, the S&P 500 and the Nasdaq drifted below the flatline and the Dow Jones Industrial Average challenged its lowest levels of the day.
A robust payrolls number like the one printed Friday morning would typically encourage sizeable gains in equity markets, boosted by the promise of an improving labor market and economy amidst four years of sluggish growth. But Friday saw modest growth of less than 0.5% on the three major indices."Once we saw equities start to digest the
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