‘Clouds’ that scales on the market are not going anywhere: a ladder of the week

This is a departure from today’s morning submission, which you can apply To receive in a arrived mail every morning together with:

Share changes intensify.

In the past week, S&P 500 (^GSPC) or increased or dropped by 1% every day – Generally the latter “As insecurity around the path of economic growthParticularly proposed tariffs of President Trump, they weighed to investors.

S & P 500 and Nasdaq Composite (^Ixix) They just had their worst weeks in six months. S&P 500 now is 6% off the latest maximum of all time, while Nasdaq Compotite is now in a correctionMore than 10% of its latest maximum.

As our chart of the week shows, the lower path has come with some aggressive bounces, which Trump has usually encouraged or threatening tariffs or descending those threats.

In this pressure environment, even something similar relatively solid report on February On Friday, he cooled the nerve of the investor a little. The stocks still swung once more, dives into 5,600s before they pulled out a modest gain, closing to 5,770. And the market A new bet for three decreasing interest rates of federal reserves During 2025, as the economy slows down, it has changed a little.

“There are a lot of clouds, some storms, things get pretty dark,” Moody’s chief economist Mark Zandi said Yahoo Finance. “Well I think I would soak this [jobs] number up. I think that could be the best number we get for a while. “

Although a difficult discussion of how long the clouds will be here and how many storms she could take with them, one thing at the moment is clear: they do not go fast enough to make the investors feel confidently to take out the boat tomorrow.

On the other hand, a recent jumper on the market is not a common occurrence. By Thursday, the S&P 500 of Friday swung 2% or more for seven direct sessions. According to Yahoo Finance’s data Jared BlikreThis is the longest part with such a major internal movement in the reference index since August 2024.

Significant is that this is the last time a market narrative Focused on “growth intimidation”, where investors became concerned about the trajectory of the American economy.

Blackkck -ov Main Investment Director of Global Fixed Rick Rieder, Who was in the industry since the 1980sHe wrote in a note to clients on Friday that “it seems like there were very several times in the markets that must interpret so many different and sometimes conflict of data in relation to economics and influences on it.”