Chris Zaccarelli, Chief Investment Officer of Northlight Asset Management, stated that the non-farm report is good news for job seekers but bad news for the stock market. The increase in job positions was better than expected, which immediately triggered a reaction in Stocks and Bonds, as the Federal Reserve has even less reason to cut interest rates this year. Although the stock market does not need lower interest rates to rise, such cuts provide a tailwind for it. More importantly, a Federal Reserve that lowers rates is always better for stock investors than one that raises rates or remains unchanged. At this point in the current cycle, earnings (not just those of large Technology companies) need to improve for the market's already high valuations to continue to grow, so we will maintain a cautious attitude in the short term.