The big news today is the resilience of the US economy, and jobs market.

Not only did April's jobs come in above consensus, but they were also higher than the highest estimate.

Highlights include: 

But what I liked the most about this report was the spike in transportation and warehousing jobs.

Some are making an issue with the slow pace of growth in hourly earnings.

Others are pointing to another tick up in permanent job losers and initial claims.

There are issues, but the naysayers are grabbing at straws.

Then, there’s the WSJ story of China offering to begin tariff talks with fentanyl.

It reminds me of Lucy and Charlie Brown.  We had a fentanyl problem before, but the Biden administration didn’t follow through.

I want investors to focus first and foremost on the continued string of strong hard data.

The media is trying to hijack the session and make it about China.

The moment those job numbers came out China was in more trouble.  They cannot win unless the media sparks so much fear that Americans blink. 

But we are reminded repeatedly how we got to this lofty perch. We should never let it slip away for cheap stuff from China.

Next upside test is 5,800.