According to CoinMeta, JPMorgan Chase’s market intelligence team expects that there is a greater likelihood of the S&P 500 index weakening following the release of Friday’s U.S. non-farm payroll data. The team believes that after the employment data is released, a market scenario may arise where “good news is actually bad news.” They anticipate that the number of new jobs created will be between 30,000 and 70,000, while analysts are expecting 55,000 new jobs. Stronger-than-expected non-farm payroll data could push up bond yields and drag down on the stock market; if the data falls significantly below expectations, it might reignite concerns about stagflation in the market. Non-farm payroll data directly determines the room for marginal adjustments in the Federal Reserve’s monetary policy. Strong employment figures would lead the market to price in higher interest rates for a longer period, thereby suppressing the valuation of risk assets.