Good news is very bad news for equities, the futures on the major indices are down 1% (DJIA) to 2.3% (Nasdaq 100).
Lifted in toto from ZeroHedge:
It was supposed to be the lowest payrolls report since December 2020 and... it was, but not how the market expected. With consensus expecting a 200K print (and whisper predicting much lower amid the mass tech layoffs), virtually nobody - not even Goldman - expected a beat. And while we did in fact get the weakest print since Dec 2020, the report was a surprise beat to expectations, coming in at +263K, this was a huge beat to expectations of 200K (the 7th consecutive beat) and just barely a drop compared to the upward revised 284K last month.
Developing.
