The weaker-than-expected jobs report gave the stock market some direction, a nice treat before the 150th Kentucky Derby. Job growth slowed, and the unemployment rate ticked up to 3.9%. If this trend continues, the market may price in more than one interest rate cut this year. This week’s price action gives the impression that the stock market is still uncertain and can’t decide which way it wants to go. It’s unclear whether Friday’s move is enough to carry the market higher. The broader equity market indexes moved higher on the news. The Dow Jones Industrial Average ($INDU) and S&P 500 ($SPX) reached their 50-day simple moving average (SMA) but didn’t close above that level. The Nasdaq Composite ($COMPQ) managed to move above its 50-day SMA as several tech stocks moved higher; however, the index didn’t show much upside conviction. Tech Back in the Lead View live chart here. The daily…
