The employment numbers pretty much guarantees rate hikes will be closer to 4 (maybe even more) than the 2 hikes the analysts have been predicting.  These bunch of bozos must readjust their mindset to the new reality, the Fed has stopped their easy policy, it started back in late 2014 and they are still hanging on to the hope the Fed will reverse course.

I too think that the strong job numners continue to show real progress, they have accelerated.  Wages last year went up some 2.2% (from memory), so there is also a trend towards higher wages.  If we assume the job trends persist, or even if it moderates but still shows growth, it will put pressure on companies' profit margins, that coupled with the still strong dollar is not a good combo for the short term.

People are still spending in moderation, so I am not sure that the consumer is going to come in and save the day by lifting corporate profits, I tend to thik the consumer will increase spending ever so slightly, but not in a gang buster fashion.

Earnings guidance will matter a lot more this year.