Alright boys quick macro rundown.

Jobs came in weak. Economy lost about 92k jobs and unemployment ticked up to 4.4%. Nothing catastrophic but it’s another sign the labor market is cooling a bit.

Now layer that with everything else going on. Middle East heating up. Oil reacting. And people starting to whisper about an AI bubble after the insane run we’ve had.

When you get this combo… money usually rotates.

You start seeing funds move out of the frothy spec names and into stuff with real cash flow and real assets.

Some of the places money tends to hide:

Healthcare
$JNJ

Utilities
$NEE
$DUK
$AWK

Staples
$PEP

Or broad defensive ETFs like
$VDC
$SPLV

Then there’s the war trade. If the Iran / Hormuz situation keeps escalating, energy and defense always get attention.

Energy
$CVX
$TALO

Defense
$RTX
$LMT
$GD

And even with all the AI scare talk, the real infrastructure names are still printing money.

$NVDA
$AVGO

So the theme right now isn’t “everything is crashing.”

It’s more rotation and risk management.

Markets get weird when you mix softer jobs, geopolitical tension, and crowded trades.

Just something to keep in mind while we’re trading this week. Stay sharp.