Andrew Taylor, head of trading at JPMorgan Chase, said the US non-farm payrolls data needed to remain within a reasonable range to support continued gains in the stock market. Specifically, if the number of new jobs is less than 150,000 or more than 230,000, it will put pressure on the stock market. If the employment data is as low as 110,000, it could lead to a 1.5% drop in the S & P 500 index, which would reflect the accelerating impact of global trade concerns on the US economy. Excessive employment data could increase market expectations for further interest rate hikes by the Federal Reserve.