Huge Rally Fizzles Out In Japan

Good morning.

It's Jobs Day in America. At 8:30 AM we get the Non-Farm Payrolls report (AKA: The Jobs Report) for March.

Folks are nervous that it will be weak, as this "Spring Swoon" meme takes hold.

US futures are modestly lower.

The big story is Japan, which at one point was up nearly 4.5%, in the wake of aggressive action from the Bank of Japan.

But in the end, the Nikkei only ended up 1.5%.

Nikkei

That's still significant, but definitely underwhelming.