TMAD Intraday: NFP Print and What it Means

$SPX $GLD $USO

Hi everyone,

Just a quick intraday update, since we have the expected pullback this week.

Today we had exceptionally robust Non-Farm Payrolls (NFP) print, which effectively removes immediate recession fears from the narrative. While moderate wage growth (+0.3% MoM) spares the market from an immediate panic-hike scenario, the underlying structural strength of the labor market suggests a higher-for-longer Fed stance, explaining today’s intraday pullback across equities.

What it means for different asset classes?