The global rally in stocks may be about to splutter. At least that is the conclusion judging by weekend commentary surrounding the latest US job numbers. The world’s largest economy added a disappointing 88,000 jobs in March compared with 268,000 in February.
The bears’ case is that the market has simply gotten too far ahead of itself in view of S&P 500 Index’s record high last week. The market has ignored anemic data and been rather too ebullient about data that was at best average.