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There Was Economic News Today

ADP announced new jobs at 113,000 versus a forecast of 130,000. Just how we would like it if anyone really cared about ADP.

The S&P PMI came in right at forecast of 50 – kind of goldilocks from the purchasing managers.

JOLTS (job openings and labor turnover) came in with 9.6 million job openings which is 200,000 higher than forecast and 100,000 more than last month.

All in all kind of a neutral day for economic data–all eyes are focused on the FOMC announcement in 2 hours or so. Equities are partying a bit again today with the S&P500 up 1/2% while interest rates tumbling—the 10 year off 8 basis points on the treasury announcement that maybe they will sell a few billion less in debt than anticipated.

We know that the only things that matters today really is the FOMC announcement–which more than likely will be ‘pause’ or ‘skip’ whatever we are calling it this month.

Let’s Go!!

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