Job gains increased slightly in February, as the unemployment rate ticked higher to 4.1%, both figures increasing more than economists expected, data released on Friday by the Bureau of Labor Statistics showed.
Interactive Brokers chief strategist Steve Sosnick and RSM chief economist Joe Brusuelas join Seana Smith and Madison Mills on Morning Brief to discuss the fresh economic data print and what it signals about the US economy and the Federal Reserve's next move.
Sosnick says while the jobs print could move the market, "it's different when there's news flow." US stocks are under pressure recently as investors weigh uncertainty surrounding Trump's tariff policies.
The strategist tells Yahoo Finance, "There is just a general sense that the economy is not as strong as people had hoped or thought it was," noting shifting expectations that the Fed will cut rates more than once in 2025 as "fear" that "the economy slows faster than the Fed is able to react," returns, weighing on things a bit."
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Brusuelas pushes back on the idea that the Fed will deliver multiple rate cuts this year, saying the jobs report "actually probably understates the strength of the labor market."
To watch more expert insights and analysis on the latest market action, check out more Morning Brief here.
This post was written by Naomi Buchanan.