07/08/2024
Some interesting stats:
ADP Employment Report:
๐๐๐๐ ๐ฃ๐จ๐๐ฌ ๐ฐ๐๐ซ๐ ๐๐๐๐๐ ๐ฅ๐๐ฌ๐ญ ๐ฆ๐จ๐ง๐ญ๐ก, falling short of the expected 165K.
The prior monthโs reading was revised upward from 152K to 157K.
Job Openings:
๐๐ง ๐๐๐ฒ, ๐๐ ๐ฃ๐จ๐ ๐จ๐ฉ๐๐ง๐ข๐ง๐ ๐ฌ ๐ฎ๐ง๐๐ฑ๐ฉ๐๐๐ญ๐๐๐ฅ๐ฒ ๐ซ๐จ๐ฌ๐ ๐ญ๐จ ๐.๐๐ ๐ฆ๐ข๐ฅ๐ฅ๐ข๐จ๐ง ๐๐ซ๐จ๐ฆ ๐.๐๐ ๐ฆ๐ข๐ฅ๐ฅ๐ข๐จ๐ง, ๐ซ๐๐ฏ๐๐ซ๐ฌ๐ข๐ง๐ ๐ ๐ซ๐๐๐๐ง๐ญ ๐๐๐๐ฅ๐ข๐ง๐.
Federal Reserve:
Fed Chair, Jerome Powell, acknowledged declining inflation but emphasized the need for more evidence before considering rate cuts.
The policy rate remains at 5.25% to 5.5%, the highest in over two decades, with cautious optimism about the economy and labor market.
This Weeks Reports and Market Impact:
Many economic data reports will be packed into this week's calendar. This includes Private Payrolls, Jobless Claims, Services PMI, Factory Orders, Durable Goods, and the FOMC Meeting Minutes. These reports could cause some volatility with bond prices.
๐๐ฆ๐ฉ๐ฅ๐จ๐ฒ๐๐ซ๐ฌ ๐๐๐๐๐ ๐๐๐,๐๐๐ ๐ง๐จ๐ง๐๐๐ซ๐ฆ ๐ฉ๐๐ฒ๐ซ๐จ๐ฅ๐ฅ๐ฌ ๐ข๐ง ๐๐ฎ๐ง๐. ๐๐๐จ๐ง๐จ๐ฆ๐ข๐ฌ๐ญ๐ฌ ๐๐ฑ๐ฉ๐๐๐ญ๐๐ ๐ ๐ ๐๐ข๐ง ๐จ๐ ๐๐๐,๐๐๐ ๐ฃ๐จ๐๐ฌ, ๐ฅ๐๐๐ฏ๐ข๐ง๐ ๐ญ๐ก๐ ๐ฎ๐ง๐๐ฆ๐ฉ๐ฅ๐จ๐ฒ๐ฆ๐๐ง๐ญ ๐ซ๐๐ญ๐ ๐ก๐จ๐ฅ๐๐ข๐ง๐ ๐๐ญ ๐%.