U.S. stocks faced impending losses as futures indicated a selloff after unexpected jobs data challenged previous economic perceptions. Analysts warned of a recession, with futures for major indexes like the Dow Jones and S&P 500 declining. Economic indicators suggested job gains averaged only 35,000 over the past three months, alongside worsened consumer spending, housing, and manufacturing conditions. Mark Zandi of Moody's Analytics characterized the economy as "on the precipice of recession," echoing concerns from JPMorgan economists about the increasing economic weakness amid the uncertainty created by tariffs.
After investors marveled at how resilient the economy appeared in the face of President Donald Trump's tariffs, it turns out conditions were actually much weaker, with job gains over the last three months averaging just 35,000.
Combined with separate indicators showing deterioration in consumer spending, housing, and manufacturing, the overall picture is one of an economy "on the precipice of recession," according to Mark Zandi from Moody's Analytics.
Markets were pointing toward another selloff Sunday evening after startling jobs data delivered a rude awakening to Wall Street bulls.
Futures tied to the Dow Jones Industrial Average fell 47 points, or 0.11%. S&P 500 futures were down 0.17%, and Nasdaq futures slipped 0.23%.
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