August 1, 2025-
The market today was not great, and that’s an understatement. Let’s start with the indexes. The S&P dropped 1.6%, which was its worst performance since May. Dow fell 1.2%, and NASDAQ sank 2.2%. This can be attributed to two key factors. First, which is the terrible jobs report that was released today. Only 73,000 jobs were created in the month of July, which was a good 40,000 below predictions. Of the 73,000, 55000 jobs were added in the healthcare sector, showing a lack of broad job development. Not only this, but the job creation totals for both May and June were slashed by 258,000 after revision, causing stocks to plummet. This poor report caused President Trump to fire Bureau of Labor Statistics Commissioner Erika McEntarfer. (Read more at the jobs report section of this blog). The second reason for a bad day at the office for the market are the tariffs taking effect today, some of which are upto 41%. To finish the day off, inflation increased from 2.4% to 2.6%. A day to forget for the market, that’s for sure.
Market Memo 