The monthly report on payrolls due out Friday, one of the most closely watched data points on Wall Street, could be bad news for investors, according to Torsten Slok, chief economist at Apollo.
Because the survey will have been done shortly after President Donald Trump’s tariffs were announced, business could have been particularly uneasy, he said in a note.
“The consensus expects 130K jobs created in April,” Slok said. “There are significant risks that the number is going to be lower, perhaps even negative.”