The new jobs data is a terrific boost to the Bullish camp (where I have been since February 2).  It was strong enough to keep the expansion growing, but not so robust as to force the Fed’s hand.

As I wrote yesterday, I am thrilled to be wrong on "the under" this time around. Yields are coming in, oil is softening, and the Dow is closing in on multi-year highs. If we close above those highs — an admittedly big if — that will officially kick off the next major leg higher.

What's been said:

Discussions found on the web:
  1. Global Trader’s Diary commented on Mar 4

    Positive Employment Headlines but…

    The economy maintains the status quo while giving the Fed the green light to hike rates further.

  2. Jeff I commented on Mar 4

    Barry, Barry, Barry!

    As most honest economist (as in no one shilling for the GOP or CATO) would point out, the 262K new non-farm jobs (as if farms have actually create work in the last one-hundred years) is still well below the number needed just to keep pace with the per annum rate of new, first time job seekers. I believe that number needs to be around 400K per month for at least a year.

  3. Damian commented on Mar 4

    Oil is softening? What charts are you looking at?

  4. Barry Ritholtz commented on Mar 4

    this was an intraday comment — meaning, reflecting the state of trading for the moment.

    Readers of this blog know my longstanding bullishness on energy . . .

  5. C J Flynn commented on Mar 8

    I would like to see the graph of the corrections that they make to these numbers month by month.

    It always seems like they are only consistant in one way; they usually decrease the “good” news and increase the “bad” news.

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