What Happened?

A number of stocks fell in the afternoon session after concerns about the health of the U.S. economy grew following a significant downward revision of job market data. 

The Labor Department reported that employers added 911,000 fewer jobs from April 2024 through March than initially estimated. These "benchmark revisions" are issued annually to more accurately account for new and defunct businesses. The report detailed that the leisure and hospitality sector added 176,000 fewer jobs, professional and business services 158,000 fewer, and retailers 126,000 fewer. This weaker-than-expected data has fueled investor anxiety, as it suggests businesses may be becoming more reluctant to hire amid economic uncertainty. The numbers issued are preliminary, with final revisions scheduled for February 2026. 

JPMorgan Chase CEO Jamie Dimon added that the U.S. economy is "weakening," though he stopped short of predicting a recession. "Whether it's on the way to recession or just weakening, I don't know," he said. Dimon's remarks are closely watched, given his influence as head of one of the nation's largest banks.

The stock market overreacts to news, and big price drops can present good opportunities to buy high-quality stocks.

Among others, the following stocks were impacted:

• Construction and Maintenance Services company Concrete Pumping (NASDAQ: BBCP) fell 3.4%. Is now the time to buy Concrete Pumping? Access our full analysis report here, it’s free.
• Specialty Equipment Distributors company United Rentals (NYSE: URI) fell 2.9%. Is now the time to buy United Rentals? Access our full analysis report here, it’s free.
• Home Construction Materials company Simpson (NYSE: SSD) fell 3.5%. Is now the time to buy Simpson? Access our full analysis report here, it’s free.
• Specialty Equipment Distributors company Hudson Technologies (NASDAQ: HDSN) fell 3.1%. Is now the time to buy Hudson Technologies? Access our full analysis report here, it’s free.
• Building Materials company Carlisle (NYSE: CSL) fell 3%. Is now the time to buy Carlisle? Access our full analysis report here, it’s free.

Zooming In On Simpson (SSD)

Simpson’s shares are not very volatile and have only had 5 moves greater than 5% over the last year. In that context, today’s move indicates the market considers this news meaningful, although it might not be something that would fundamentally change its perception of the business.

Simpson is up 15.6% since the beginning of the year, and at $189.99 per share, it is trading close to its 52-week high of $197.08 from August 2025. Investors who bought $1,000 worth of Simpson’s shares 5 years ago would now be looking at an investment worth $1,926.

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