JPMorgan traders: Non-farm data needs to remain in the 150,000-230,000 range to support the US stock

Andrew Taylor, head of trading at JPMorgan, stated that US non-farm payroll data needs to remain within a reasonable range in order to support continued growth in the stock market. Specifically, if job growth is below 150,000 or above 230,000, it will create pressure on the stock market. If job data falls as low as 110,000, it could cause the S&P 500 index to fall by 1.5%, reflecting concerns about global trade accelerating and affecting the US economy. On the other hand, overly high employment data may increase market expectations for further rate hikes by the Federal Reserve.