The US economy added 275,000 jobs in February, surpassing expectations, but revisions to previous figures complicated the outlook. Although the non-farm payroll figures indicated a strong services sector, downgrades to January and December numbers overshadowed February's gains. Initially, traders speculated on faster interest rate cuts, but later reversed course. Futures markets now predict the first rate cut as soon as June, followed by two or three more later in the year, aligning with the Fed's December projections. The downward revisions to previous months' job gains suggest less robust recent growth. The two-year Treasury yield fell, reflecting altered rate expectations. The S&P 500 dipped after initially rising.