Stocks fall as investors digest stronger-than-expected jobs data

Stock futures are crashing after Payrolls signaling that the Fed pivot or pause approach is too early to start.
⚠️BREAKING:
— Investing.com (@Investingcom) December 2, 2022
*U.S. NOVEMBER NONFARM PAYROLLS RISE 263,000; EST. 200,000; PREV. 284,000
🇺🇸🇺🇸 pic.twitter.com/evsBFddSUI
It's yet ANOTHER happy jobs day. Payrolls rose +263k, well above expectations. Unemployment remains low at 3.7%.
Looks like we are getting a possible boost to average hourly earnings from severance pay--jobs and hours are declining in transportation and warehousing yet AHE jumped 2.5% m/m pic.twitter.com/ac8aHdEuXV
— Julia Coronado (@jc_econ) December 2, 2022
Revisions for the past two months were +23k for October and -46k for September. This expansion just keeps on rolling on.
What’s the real jobs story over the past 8 months? Establishment survey showing 2.7m jobs created, or household survey showing 120k? (Reality is likely somewhere in the middle, but household survey tends to lead on downside) pic.twitter.com/xkZRLGHEVu
— Liz Ann Sonders (@LizAnnSonders) December 2, 2022
What should be a good news for the U.S. economy is actually bad news for markets expectation. A jobs beat sends stock futures tumbling.
BREAKING: Despite layoffs, hiring freezes and continued Fed interest rate hikes, the U.S. added 263,000 net new jobs in November, higher than the 200,000 expected, and a sign of continued strength in the labor market. The unemployment rate remained at 3.7%
— Ali Velshi (@AliVelshi) December 2, 2022