Trader who called March 2023 crash reveals why today's 111,000 jobs report could trigger Fed rate cuts
Key Points
- The job market just lost 33,000 jobs in May, raising concern...
The job market's having its worst hair day since March 2023, and Wall Street's nervously checking the mirror. ADP just delivered a reality check with 33,000 jobs vanishing into thin air last month - the first time we've seen red numbers since early 2023. Now everyone's wondering if today's Non-Farm Payroll report will follow suit with its modest 111,000 jobs forecast.
Here's where it gets interesting: the unemployment rate is expected to creep up from 4.2% to 4.3%. That might sound like decimal dust, but in Fed-speak, it's practically shouting "cut rates already!" The market's currently prici...
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