Happy Wednesday! A surprising revision to the U.S. jobs report erased nearly 1 million previously reported jobs — the largest downward adjustment in history. Read on to see what this means for the economy, interest rates and your portfolio.

Also, SPY, the largest S&P 500 ETF, saw $2.1 billion in outflows last week. While the data can quickly sound alarm bells, if you look a little closer, the picture changes: money isn’t leaving the index, it’s shifting. Here’s the full breakdown and a look at where smart money is headed.

Plus, if you are looking for a sustainable agriculture investment that’s making a difference in Africa, check out today’s sponsor.

In Today's Edition

• MARKET RECAP

• MARKET HEATMAP

• FIVE ZINGERS

• MARKET HISTORY

• ONE FOR THE ROAD

Nearly 1 Million Jobs Disappeared—And No One Noticed Until Now

The U.S. job market just got a harsh reality check. A stunning revision from the Bureau of Labor Statistics erased 911,000 previously reported jobs — the largest downward adjustment in history.

This massive correction slashed average monthly job growth by more than half, and questions are now swirling about whether the Federal Reserve has been dangerously behind the curve in its policy decisions.

President Donald Trump wasted no time pointing fingers, slamming the Fed and calling their approach “broken,” and demanding immediate rate cuts. So what happens next? Read on to see what this historic revision means for the market, interest rates and your portfolio.

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Yesterday: U.S. indexes closed modestly higher Tuesday, with the S&P 500, Nasdaq and Dow all notching new record highs as investors awaited key inflation reports this week. Year to date, the Dow is up 8%, the S&P 500 has gained 11% and the Nasdaq is up 13%. When it comes to the job market, Wall Street digested a significant downward revision to U.S. payroll figures, with the Bureau of Labor Statistics reporting 911,000 fewer jobs than initially estimated over the past 12 months — well above expectations. The revisions add to the growing datapoints and signals of a softer labor market, reinforcing expectations on Wall Street that the Federal Reserve will cut interest rates.

On Our Radar: Analysts will be watching wholesale inventories today, as well as the Consumer Price Index (CPI) which will be released tomorrow morning. On the earnings front, all eyes will be on Kroger (KR) and Cheetah Mobile (CMCM), which will report results before the opening bell tomorrow.

Shares of UnitedHealth (UNH), Super Micro Computer (SMCI) and Coinbase (COIN) were all surging on Tuesday, while shares of Fox Corp. (FOX) and Albemarle (ALB) tumbled. But those weren’t the only companies making big moves. Here’s a look at some of the biggest winners and losers on Tuesday.

Discover how the market is moving with our interactive heatmap. Filter by market cap, or click on any box to explore specific sectors or assets in more detail.

Your Next Big Fintech Breakthrough Starts Here

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On This Day In 1910…

General Motors was on the brink of bankruptcy before bankers agreed to loan the company enough funds to avoid collapse, helping GM survive its early years. Nearly 100 years later, GM declared Chapter 11 bankruptcy and needed a government bailout to stay afloat. In 2009, the government took a 60% stake in the company and four years later (December 2013), it sold the last of its shares — taking a $10 million loss in the process. Today, GM has a current market cap of $55 billion.

QUOTE OF THE DAY

“Go to bed smarter than when you woke up“

— Charlie Munger

Market Moves: Billions Are Leaving SPY, But Here’s Why The S&P 500 Isn’t Skipping a Beat

SPY, the largest S&P 500 ETF, saw $2.1 billion in outflows.

But don’t panic. While the data can quickly sound alarm bells, if you look a little closer, the picture changes: money isn’t leaving the index, it’s shifting.

With cheaper alternatives such as VOO and IVV, investors aren’t turning bearish; they are getting more strategic. Read on for the full breakdown and what it means for your portfolio.

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