A Busy Day Of Data

We've been warning you that the back half of this week was going to be busy and volatile and today has not disappointed. What's nice is that the combined reaction in the PMs has been positive and that serves as just another sign that the lows are in and that the trend has shifted.

Let's start with the ADP jobs report. It eeked out a 120,000 job gain but that was only due to "hospitality workers" growing by 244,000. ZH called the report "disastrous" and it clearly foreshadows the sharply contracting jobs market of 2023, caused by The Fed overtightening and driving the US economy...

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Key Economic Events Week of 1/30

1/31 8:30 ET Employment Costs
1/31 9:00 ET Case-Shiller Home Prices
1/31 10:00 ET Consumer Confidence
2/1 8:15 ET ADP jobs report
2/1 9:45 ET S&P Manu PMI
2/1 10:00 ET ISM Manu PMI
2/1 10:00 ET JOLTS
2/1 2:00 ET FOMC Fedlines
2/1 2:30 ET Chief Goon Powell
2/2 8:15 ET ECB rate decision
2/2 8:30 ET Productivity & Labor Costs
2/2 10:00 ET Factory Orders
2/3 8:30 ET BLSBS
2/3 9:45 ET S&P Services PMI
2/3 10:00 ET ISM Services PMI

Forum Discussion

by argentus maximus, 2 hours 25 min ago
by argentus maximus, 2 hours 44 min ago
by argentus maximus, Jan 31, 2023 - 1:14pm
by argentus maximus, Jan 27, 2023 - 6:13am
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