SPY, QQQ Defy Jobs Data Revision and Dimon’s Caution as Markets Eye Inflation

U.S. equity ETFs climbed despite a historic downward revision to jobs growth figures and cautious remarks from JPMorgan's CEO. The S&P 500 ETF (SPY) and Nasdaq 100 ETF (QQQ) both closed higher ahead of critical inflation data, showcasing market resilience.

The Bureau of Labor Statistics slashed its March 2025 jobs estimate by 911,000—exceeding forecasts and marking the largest percentage adjustment since 2009. Jamie Dimon warned of economic softening but downplayed the potential impact of anticipated Fed rate cuts, stating the September FOMC MOVE might prove inconsequential.

Investors continue to view monetary easing as bullish, with risk assets finding support despite mixed labor signals. The market's muted reaction suggests greater focus on upcoming CPI figures than retrospective employment revisions.