Latest Breaking News

progree

(12,452 posts)

33. I dunno. Yesterday the S&P 500 went DOWN 35 points after a +497k private sectors job report

Fri Jul 7, 2023, 08:31 PM

Jul 2023

and today it went DOWN 13 points after a +209k jobs report (+149k private sector jobs)

(S&P 500 down 0.8% yesterday and down 0.3% today), so I dunno.

The first jobs report was a positive side block buster way above expectations. Today's job report was a little below expectations (although the unemployment rate fell from 3.7% to 3.6% in today's report, so I'd call it a mixed report).

So dunno. But there's a consensus both yesterday and today that the Fed is going to hike rates in late July -- a 92% chance of that as I look right now at the FedWatch tool:

https://www.cmegroup.com/markets/interest-rates/cme-fedwatch-tool.html

so that and other factors at work, I guess.

In other news, inflation reports coming up soon: CPI Wednesday and PPI Thursday.

Edit history

Please sign in to view edit histories.

Recommendations

0 members have recommended this reply (displayed in chronological order):

35 replies

= new reply since forum marked as read

Highlight:

Payrolls rose by 209,000 in June, less than expected, as jobs growth wobbles [View all] Joe Cool Jul 2023 OP

Oh, stop it! You're falling into the same line we're hearing too... TreasonousBastard Jul 2023 #1

Yesterday's job news was off the charts - we need to balance it with more tepid job numbers... Probatim Jul 2023 #2

It's the title of the article Joe Cool Jul 2023 #30

Yes, but while article was largely positive, most people just see... TreasonousBastard Jul 2023 #31

Seems to be a real disparity between ADP figures and official BLS data OnlinePoker Jul 2023 #3

ADP is not a reliable source for this data. It's just a private payroll service. PSPS Jul 2023 #18

So, where are all the cheerleaders from yesterday's House of Roberts Jul 2023 #4

I was thinking the same thing. underpants Jul 2023 #8

Maybe they added the jobs but don't plan to pay them...great business plan mpcamb Jul 2023 #9

It's 2 different data sets BumRushDaShow Jul 2023 #10

And the ADP only does 20% of the nation's payroll. The other 80% is an estimate based on progree Jul 2023 #13

Thank you! BumRushDaShow Jul 2023 #20

Payroll jobs growth (Establishment Survey) vs. Employed (Household Survey) progree Jul 2023 #25

Glad you are back up and holding! BumRushDaShow Jul 2023 #26

Interesting rolling 3 month average graph of headline nonfarm payroll jobs progree Jul 2023 #27

See you got me playing with the charts there BumRushDaShow Jul 2023 #28

Interesting how so much the same (as expected) and yet somewhat different progree Jul 2023 #29

I see your graph disappeared. It uses to be that copying and pasting a BLS graph's URL progree Jul 2023 #34

I'm guessing they kill the hotlinks after awhile BumRushDaShow Jul 2023 #35

209,000 is still a great number Johnny2X2X Jul 2023 #11

CNBC LOL, gab13by13 Jul 2023 #5

Lower numbers reduce potential for more rate hikes. NoMoreRepugs Jul 2023 #6

The MSM has been beating this a recession is coming ever since Biden's doc03 Jul 2023 #7

The beating will continue until morale improves IronLionZion Jul 2023 #12

How else can they get Republicans to win next year's elections. Yavin4 Jul 2023 #21

LINKS to some BLS Data Series Numbers and Graphs progree Jul 2023 #14

This story is directly contradicted by story from the same source here: Fiendish Thingy Jul 2023 #15

No, yesterday's report is the ADP payrolls report progree Jul 2023 #16

I am criticizing the meaning ascribed to each report Fiendish Thingy Jul 2023 #17

OK, the big difference between 497,000 private sector jobs and 209,000 total jobs progree Jul 2023 #19

My criticism was of the quality of CNBC's reporting Fiendish Thingy Jul 2023 #23

I didn't have much of a problem myself with it, except I wouldn't use "wobbly" for today's progree Jul 2023 #24

so, the stock market went down....why? Skittles Jul 2023 #32

I dunno. Yesterday the S&P 500 went DOWN 35 points after a +497k private sectors job report progree Jul 2023 #33

None of these numbers are precise. Yavin4 Jul 2023 #22