From MarketWatch: U.S. stock futures declined sharply Friday after the Labor Departments nonfarm-payrolls report came in significantly below expectations, cementing views of an economic soft patch.
Watch out for those “soft patches”.
The macro data the last two weeks has all missed on the bad side. Today's NFP number was a disaster (consensus expectations of +195K - FactSet). We are entering the same "spring swoon" pattern we saw in 2010, 2011, and 2012. He's the Goldman Sachs "swirlogram":