"The markets traded as though they are anticipating a weaker than expected number, which will be dovish and friendly for maintaining lower interest rates." - Jesse, 6 May 2021 

Bingo.

The Non-Farm Payrolls number posted a huge miss, with downward revisions in the prior months.

All the better to justify stimulus for the economy, my dear.

And so the markets took off higher.

And forgotten was the cautionary statement from the Fed at the close of trading yesterday.

Hey, but we warned them, right?

Gold finished solidly, and silver held much of its gains.

The dollar headed lower on expectations of more easing for longer, aka low-interest rates.

The SPX soared to a new high, while the tech-heavy NDX gave back a chunk of its early gains.

Let's see what the new week may brink with the inflation numbers.

Have a pleasant weekend.

(Click on image to enlarge)

(Click on image to enlarge)

(Click on image to enlarge)

(Click on image to enlarge)

(Click on image to enlarge)

(Click on image to enlarge)

(Click on image to enlarge)