[SaintGhurka]

> unless those stocks expected to be able to get some benefit from a weak jobs report like slowing the increase in interest rates, or a cheaper labor market

I'm pretty sure it's the former. Higher rates wallop stocks in multiple ways. They slow the economy in general, they directly raise the cost of borrowing for debt-addicted corporations, and they create an attractive alternative for investors.

If you had a lot of money in 2020, you could buy 10-year treasuries yielding less than a percent, or you could take your chances in the stock market that was down 25% off it's highs. Today, it's completely flipped. You can make 3.5% in the bond market with no risk, or you can roll the dice on a stock market that's up pretty substantially.