U.S. stocks were priming for more losses on Friday as traders await the key non-farm payrolls report. Tech stocks could again take the brunt of the selling amid some sector-specific concerns and the ongoing rotation out of the sector. Against the backdrop, the payroll data could be a make-or-break catalyst for the market.
Quincy Krosby,Chief Global Strategist at LPL Financial, said if the payroll report sees the unemployment rate rising despite an increase in the participation rate, the Fed is going to have a lot of explaining to do as officials hit the airwaves...
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