Why the Jobs Report Took 'Second Fiddle' In the Markets

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Happy Fri-yay!

Normally, the first Friday of the month is reserved for the jobs report--and that report can make or break the market.

But not this Friday. 

Instead, the jobs report took the backseat to President Trump's Thursday afternoon tweet. 

The tweet said that Trump is planning on implementing additional tariffs of 10% on China starting September 1st. 

And, of course, it completely distracted investors from the July jobs report, which came in at 164,000. Analysts, according to FactSet, were expecting around 165,000. 

"People are gonna be reviewing the jobs, saying okay, well how's it gonna play into what [Federal Reserve Chair Jerome] Powell might do next. But, I still think trade is really is the number one thing right now. Into the weekend, I wouldn't be surprised to see some investors skittish and trying to maybe sell out on the potential that there might be some retaliation or escalated tension from over the weekend. That's what we saw a lot in 2018. 2018 when this kind of trade news was kind of first in its beginnings. I think Friday was down almost like every single day because people were just like, I don't want to be in for the weekend," said Marks.

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