Futures solidly higher
A strong employment report is often a double-edged sword. If it's good, it means the economy is solid and people have money to spend. But if it's too good, it can mean the Federal Reserve will hike rates and that will hurt profit margins.
At the moment, this one looks to be just right. The market pricing out a rate cut but it's also pricing out the risk of a big US slowdown. As a result, S&P 500 futures are up 14 points, more than enough to erase yesterday's 6 point decline. However the index will need to rise 36 points to get back to Wednesday's all-time high.
