Update to this morningโs daily post. The jobs report landed. Here is the afternoon board.
The tape after 8:30
- Payrolls +162,000 in August vs about 56,000 expected. Unemployment 4.1%. Wages +0.3% to $37.75, up 3.1% year over year. Participation 61.6%.
- July revised from โ23,000 to +21,000. June from +20,000 to +31,000. The jobless-summer story got quieter.
- Stocks opened muted: Dow โ0.19%, S&P and Nasdaq basically unchanged. No crash. No parade.
- Hike odds for September 15โ16 climbed back toward the mid-60s. Thursdayโs coin flip is less of a coin.
- Bitcoin tagged ~$82,300 then dumped under $80,000, as low as about $79,200 on the first pass.
- Two-year yields and the dollar jumped. That is the hike machine.
- Lululemon is still the earnings dump (~18% overnight). Different story. Still ugly.
- LSU vs Clemson Saturday now includes a court order and two ex-NFL Tigers. The SEC already sued.
- Wolverine reviews: September 10. Game: September 15. Onimusha is out today if you needed a sword.
- CPI: Friday, September 11. Waller said that is his test. 162k just made the test harder to ace.
One sentence on the war
Vance still will not use the word. Hormuz still will not use the ships. Oil still ~$95.
What to do with this page
This morningโs briefing was a waiting room. This one is the scoreboard. Do not buy or sell off a daily post. Use it so you are not the last person to hear that July was never a 23k hole.
Bottom line: the labor market can take a hike. The stock market is waiting to see if inflation can. Next Friday decides which sentence you remember.
GLHR NEWS explains the news. Not investment, tax, or trading advice. Do your own work before you act.
