CNBC Daily Open: Trump doubles down on criticism of jobs report — but markets bounce back

The U.S. Bureau of Labor Statistics' July's jobs report revised erstwhile months' figures down truthful dramatically that U.S. President Donald Trump called it "RIGGED" and "CONCOCTED."

Markets, however, look to person shrugged disconnected their worries for present — U.S. stocks rebounded Monday from the sell-off connected Friday aft the study was released. The move, however, could beryllium much an instinctive reflex than a reflection of what's truly driving markets.

"Today is benignant of a bounce-back day," said Sam Stovall, main concern strategist astatine CFRA Research. "Stocks thin to popular aft a drop, truthful that's what's happening."

"We person to hold and spot what happens tomorrow, due to the fact that determination could beryllium a anticipation that investors think, 'You cognize what, we truly request to instrumentality immoderate wealth disconnected the array to digest immoderate of these gains,'" helium added.

Trump's caller tariffs travel into unit connected Aug. 7, truthful there's a anticipation investors could prehend this opportunity, erstwhile markets person recovered somewhat from Friday's losses, to instrumentality nett archetypal — and earlier immoderate further slowdown, arsenic suggested by July's jobs report, is perchance "rigged" and strikes the U.S. economy.

Contentious July jobs study confirms the U.S. system is slowing sharply. Here's why

Nonfarm payrolls rose by conscionable 73,000 in July, beneath adjacent the muted expectations. Heavy downward revisions to the May and June number took the three-month mean occupation gains down to conscionable 35,000, oregon little than one-third the gait for the aforesaid play a twelvemonth ago.

Traditionally a lagging indicator erstwhile it comes to recessions, the weakness successful occupation maturation points to an system that whitethorn beryllium slowing adjacent much than immoderate of the accepted metrics are showing.

— Jeff Cox