Market Musings 11/5/2025
Quick thoughts on the markets and major portfolio news. Not on Ursa yet? Download Ursa from the App Store!
Markets rebound as #LaborMarkets bounce and Supreme Court questions #Tariffs…
It was a double shot of good news with better-than-expected private employment #LaborMarkets and fresh hopes the #Tariffs could be rolled back by the Supreme Court.
First up, the ADP private payrolls report. Hiring surprised to the upside with 42K jobs added versus forecasts for 22K. It’s a big turnaround from last month’s -29K loss.
That still nets out to a soft 13K jobs across the last two months, but it does shows some stability in #LaborMarkets. It’s a “just right” report－cool enough to offset #Inflation, but warm enough to signal the economy still has a pulse.
In short, a Goldilocks read that keeps December #RateCuts squarely on the table.
Next, the Supreme Court kicked off hearings on whether the White House’s massive #Tariffs were even legal under emergency powers.
The early read? A majority of justices sounded skeptical－sparking market hopes that the #Tariffs could eventually be overturned.
To be clear, a ruling could take months, but the court’s tone was enough to ignite optimism. If the Supreme Court does strike down the #Tariffs, it could remove a huge cloud of uncertainty around future #Inflation pressure.
Markets did cool into the close on Wednesday as we’re still in a government shutdown, flying blind with official data paused and investors are growing skeptical of the #AI trade.
With Thanksgiving just weeks away, things may get quieter on the data front, but don’t expect calm. Volatility is likely to stick around as investors cling to every macro clue they can get.
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Original Photo by Pixabay.