Institutions: The momentum for Buy the Dips may continue until the end of the tariff suspension.

On May 2, Chris Zaccarelli, chief investment officer at Northlight Asset Management, said that the market breathed a sigh of relief today because of better-than-expected jobs data. While recession fears are still brewing, the dip-buying momentum is likely to continue, at least until the end of the tariff pause. “We’ve seen how financial markets will react if the Trump administration goes ahead with its original tariff plan, so unless they adopt a different strategy when the 90-day moratorium expires in July, we’re going to see a market move similar to the first week of April. If the Trump administration’s tariff policy adjusts, changes the ultimate goal and exempts unreasonable tariff levels, then the real economy can be readjusted and the market will take it easy. But we’re not out of the woods yet.” ( gold ten )