The end of another record-setting week for U.S. stocks brings the nonfarm payrolls report for February, and Wall Street is braced for another low number impacted by the harsh winter still being felt across much of the country.
“The expectation is that it’s going to be disappointing, which is pretty reasonable given the still-miserable weather over a good portion of the country,” said Bruce McCain, chief investment strategist at Key Private Bank.
“The margin of error for the jobs report is getting wider and wider; the last two months did not get a huge reaction, even though they were on the disappointing side. I think that will continue to be the case,” said Paul Nolte, senior vice president and portfolio manager at Kingsview Asset Management.
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