Paul Tudor Jones sees potential market rally after late October
After today’s encouraging jobs report, President Trump expressed his approval of the economic progress made by his administration. He highlighted the low inflation and robust employment situation in a post on Truth social.
Trump noted, "Gasoline just broke $1.98 a Gallon, lowest in years, groceries (and eggs!) down, energy down, mortgage rates down, employment strong, and much more good news, as Billions of Dollars pour in from Tariffs. Just like I said, and we’re only in a TRANSITION STAGE, just getting started!!! Consumers have been waiting for years to see pricing come down. NO INFLATION, THE FED SHOULD LOWER ITS RATE!!! DJT"
According to a Labor Department report, nonfarm payrolls rose by 177,000 in April, surpassing economists’ expectations of a 130,000 increase. The unemployment rate remained steady at 4.2%, matching the forecast.
Earlier this week, Trump attributed negative GDP data to former president Biden. His tendency to take credit for positive economic trends and blame others for unfavorable data is likely to draw criticism. However, following the release of the jobs report, the S&P 500 increased by 1.2% in pre-open trading and is set for its 9th consecutive day of gains.