Well, that wasn't in the script. The latest jobs report from the Bureau of Labor Statistics, released Friday, showed the U.S. economy lost 92,000 nonfarm payrolls in February. That's a pretty stark turnaround from January's downwardly revised gain of 126,000 jobs, and it missed economists' expectations for a 59,000 increase by a wide margin.

Adding to the surprise, the unemployment rate ticked up from 4.3% to 4.4%, coming in above the forecast of 4.3%.

There was one piece of firm data, however. Average hourly earnings rose 0.4% month-over-month, matching January's pace and topping the consensus estimate of 0.3%. So, while job growth stumbled, wage pressures haven't let up just yet.