Payroll growth

Apparently, the non-farm payroll growth in May was a lot slower than in April. This explains why the market took a nosedive today. It may still turn around with almost 3 hours left in the market, but chances are, it will be a down day. It's fascinating to me how people focus on the payroll growth number and yet, when you look at the unemployment rate, we are doing better than last month! We are at 5.1% unemployment, compared to 5.2% last month!

People are starting to think that the Fed is done with their rate hikes, claiming that the economy has decelerated so much that if the Fed hiked the rates any further, there might be a catastrophe!

Wow....people just get so overzealous about everything and you can thank the media for that. Looking at the fundamentals of a company, there are many healthy ones out there trading lower than they should. There are some trading higher than they should. GDP is still growing. Companies are making money. Investors are making money.

Isn't it funny how overly sensitive the market is to the smallest news, good or bad?