Trump Criticizes Market Reaction to Strong Jobs Report

President Donald Trump expressed frustration over the stock market's negative response to the latest jobs report, emphasizing that economic growth doesn't necessarily lead to inflation.

Trump's Statement on Market Behavior

Following the release of May's employment data, Trump stated, “With a great Jobs Report, like just announced, stocks should go up, not down. That’s the way it was for 200 years. Growth does not mean inflation! How else can a Country attain GREATNESS???”

Market Reaction to Employment Data

The May jobs report showed nonfarm payrolls rising by 172,000, nearly double the consensus estimate of 88,000, while the unemployment rate remained at 4.3%. Despite this positive data, the Nasdaq Composite closed down 4.18%, marking its worst single session since April 2025.

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Implications for Federal Reserve Policy

The strong labor market data has increased expectations for the Federal Reserve to maintain or raise interest rates. Following the report, the odds of at least one rate hike by year-end surged to 72.6% from 50.5% the previous day.

Options Market and Stocks to Watch

Investors should monitor the following ETFs:

• SPDR S&P 500 ETF Trust (SPY): Reflects the overall market sentiment and may be influenced by interest rate expectations.
• SPDR Dow Jones Industrial Average ETF Trust (DIA): Represents blue-chip stocks that could be sensitive to economic data and Fed policies.
• Invesco QQQ Trust Series 1 (QQQ): Tracks the Nasdaq-100 and may be particularly affected by tech sector volatility.

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