Good Friday morning. Welcome to Swalk in the Street. I'm Carl Cantonio with David Faber, Leslie Picker, live at Post 9 of the New York Stock Exchange.

Sarah Eisen's on assignment. Coming up this hour, Goldman's Jan Hotsius will join us with his reaction today's blowout jobs number as rates do tick higher.

The CEO of DocuSigns with us as the software name adds to some pain on the year

after earnings last night.

And we'll talk to New York Giants Edge Rushor, Kvon, Tibido,

and J.P. Morgan, Wealth, CEO, Kristen Lemkow.

They've teamed up to tour NCAA schools,

talk to students about COB for NIL,

which is a huge topic right now in American universities.

Yeah, so fascinating. Let's get straight to the market action, though, following the jobs report,

which more than doubled expectations, National Economic Council Director Kevin Hassett,

joining the show last hour saying the print opens the door for the Fed to cut rates.

What I'm saying is that this is not a Phillips Curve jobs number. This is a supply-side jobs

number, which means you can have growth and low inflation. And so this is a kind of story that

suggests that the Fed shouldn't hike rates. It shouldn't at all, and it'll have room as it

watches the numbers to cut rates. Let's bring in JP Morgan Asset Management, Chief Global

Strategist, David Kelly. David, thanks for being here on this important day. The market doesn't

seem like that's the reaction that they're getting rate cuts out of this. What do you think?

Well, yeah, and the Fed's not going to cut rates on this.

This is a genuinely strong report. I think the headline number for May is impressive at

172,000, but I think the really impressive part of it is the upper revisions, which say that,

you know, the last three months, 181,000. So the economy's got lots of momentum.

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