This week was always going to be about one thing: data. Investors came into today bracing for the January employment report, delayed by the partial government shutdown and wrapped in unusual suspense. The mood was cautious. Stock futures wobbled in early trading. Treasury yields dipped. The dollar softened. Traders were trying to game out the same question: Is the labor market cooling enough to nudge the Federal Reserve toward cutting rates sooner? Now we have the answer.
