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Santoli’s Friday market notes: Growth stocks bounce amid jobs miss. Keep expectations in check

Traders on the floor of the NYSE.
Source: NYSE

This is the daily notebook of Mike Santoli, CNBC's senior markets commentator, with ideas about trends, stocks and market statistics.

  • As a one-time London School of Economics student told us, "You can't always get what you want, but…sometimes you get what you need." In the market's case, the Street thought it wanted and certainly expected a blowout April jobs number. What it got was a big downside miss, perhaps statistically noisy, which removed some nagging fear of sooner-than-later Fed tightening and allowed deeply oversold growth stocks a reprieve, juicing a one-day pop to a new S&P 500 high.

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