ADP misses with big drop in goods producing jobs offsetting gains in services; hiring very concentrated by sector and firm size; wage growth moderated but remained "elevated"
Good info! As the poor economic data continues to worsen, lower lows in stocks are coming for Q1 2023 - monetary policy won't ease before great pain in markets. Keep up the good work Neil!
Thanks. I'll have the rest of today's reports coming shortly here. I'm not sold on lower lows (or a recession) yet, but I do think a retest is coming Q1. That said this rally could have legs after Powell chose not to step on it today.
Good info! As the poor economic data continues to worsen, lower lows in stocks are coming for Q1 2023 - monetary policy won't ease before great pain in markets. Keep up the good work Neil!
Thanks. I'll have the rest of today's reports coming shortly here. I'm not sold on lower lows (or a recession) yet, but I do think a retest is coming Q1. That said this rally could have legs after Powell chose not to step on it today.