A couple of big economic reports came out today. The ADP non-farm employment change showed a weakening job market (so rare are do the forecasts numbers on this thing match reality, I’m not even sure why they bother).
And the preliminary GDP came out almost exactly as forecast.
At the moment, the /ES is down only a few hundredths of a percent, as the market remains absolutely stymied until Powell moves his pretty, pretty lips. The arrow marks the peak so far today, which is when the market got all excited that the job market was weakening, suggesting the Fed better start stimulating the economy again, since apparently the Fed is the only thing that manages to do such a thing.
