The latest employment data has become the most influential factor for stock market movements, surpassing the Consumer Price Index (CPI) in importance. According to a Bank of America (BofA) chart, the jobs report has regained its status as the primary data point for stocks. This shift indicates a change in market dynamics, where employment data now plays a crucial role in determining market volatility and investor sentiment. Previously, poor economic data suggested potential Federal Reserve action against inflation, which could boost stocks. However, the current focus on employment means that poor data now signals an economic slowdown, likely causing market declines. Market analysts and investors are closely watching Friday's jobs report for further indications of economic trends. This change is the most significant shift post-Covid. Additionally, those monitoring the yield curve should pay close attention to the upcoming jobs report.