Stocks hold steady despite weak labor data and tech selloff

Wall Street is dragging a whole zoo through fire and somehow still running ￰0￱ Trump’s import tariff drama, the Bureau of Labor Statistics botching job numbers, and Nvidia nosediving 8% in seven days, the S&P 500 is still up 10% year-to-date, less than 1% from an all-time high. That’s sheer stubbornness dressed as a ￰1￱ mess started with Friday’s jobs ￰2￱ were ￰3￱ saw 66,000 jobs coming in ￰4￱ brought just 22,000. That collapse dragged the three-month average payroll gain down to levels usually seen right before a ￰5￱ looked like bear bait, and the bears ￰6￱ instead of a collapse, the market just ￰7￱ winners fell, 2025 underdogs got a shot, and the engine kept ￰8￱ falls, IPOs crumble, and Bitcoin bleeds Nvidia, the biggest damn stock in the market, is down 8% and has officially dipped below its 50-day moving average, despite a strong earnings ￰9￱ followed, dropping 10% from its August high, breaking through its own ￰10￱ is happening in the worst historical month for ￰11￱ has a track record of wrecking portfolios, and it’s living up to that ￰12￱ came the IPO ￰13￱ of the most hyped names in tech are barely limping.

Figma, Circle, CoreWeave, Chime Financial, and Bullish all got ￰14￱ single one is down 40–60% from their day-one ￰15￱ weren’t small names either, they were the ones everyone chased on listing day. Now, they’re just ￰16￱ the wreckage, the market isn’t ￰17￱ showed ￰18￱ jumped right after the jobs number hit, then sold off, then recovered ￰19￱ S&P barely ￰20￱ game hasn’t ￰21￱ news just feeds more bets on Fed rate ￰22￱ jobs miss lit up bond ￰23￱ yields crashed, rate-sensitive names rallied, and traders jumped back into Broadcom, which popped after a strong earnings report. Broadcom’s run isn’t ￰24￱ the last two years, its stock has gained 283%, while Nvidia’s is up 244%.

They now share the weight of AI momentum with Alphabet and Apple, while Nvidia and Microsoft get sidelined. Together, Broadcom and Nvidia control 10% of the S&P ￰25￱ this shift ￰26￱ caught between weak jobs and sticky inflation The garbage jobs report stirred doubts about economic ￰27￱ forced analysts to change their ￰28￱ of America, which had been predicting no cuts in 2025, suddenly forecasted two Fed cuts before ￰29￱ just because of the jobs data, but also because Fed Chair Jerome Powell keeps focusing on labor weakness over inflation, which still feels pressure from Trump’s ￰30￱ report isn’t even ￰31￱ low numbers aren’t entirely about layoffs.

Foreign-born workers are dropping ￰32￱ aging ￰33￱ is shrinking the labor pool. So, even small job gains now mean more than ￰34￱ may only take 50,000 new jobs a month to keep unemployment steady, way down from past ￰35￱ growth still looks fine. Why? Capital spending, a strong services sector, wealth-driven consumption, and massive federal deficits are keeping it afloat.

That’s why markets aren’t ￰36￱ in the job data, some saw a silver lining: prime-age employment ticked ￰37￱ took that and ￰38￱ history says when the Fed cuts after a six-month pause, stocks usually rally hard. That’s the bet ￰39￱ the real economy could use a ￰40￱ Davis Research dropped a new index, Main Street Financial Conditions, which uses real home prices, loan access, and ￰41￱ shows that real-world financial strain is way worse than what Wall Street metrics ￰42￱ Powell loosens up soon enough, the recent drop in mortgage rates, plus cheaper oil, might ease some of that ￰43￱ there’s still the question of ￰44￱ haven’t gone wild ￰45￱ euphoric blow-off ￰46￱ exposure is full, and the dip-buying habit hasn’t ￰47￱ strategists aren’t betting big ￰48￱ year-end targets for the S&P 500 are barely above current ￰49￱ says ￰50￱ forward price-to-earnings ratio of the S&P 500 keeps hitting resistance around 22.5, and the Nasdaq 100 P/E keeps getting rejected at ￰51￱ numbers have stopped rallies cold more than once in this nearly three-year bull ￰52￱ your project in front of crypto’s top minds?

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