No huge surprises but no signs that we're returning to the Fed's 2.0% anytime soon. Core CPI y/y increase was 3.2%, showing sustained underlying inflationary pressures. Gasoline ...

Overall pretty strong. Notables: Transportation and Warehousing gained 43,400 jobs, rebounding sharply from a loss of -29,200 in November. Government added 33,000 jobs, primarily at the ...

While the m/m figure missed forecast, 2.8% y/y remains well above the Federal Reserve’s 2% target. Notables: Real PCE adjusted for inflation, increased 0.3%, driven by higher spending on goods. ...

Mostly in line. Maybe a little hot. Notables: To three decimals CPI m/m came in at 0.313% and Core CPI m/m at 0.308%. Food rose 0.4%, driven by food at home up +0.5% and food away from home up ...

Can't make sense of a dollar sell off on this data. NFP bounce back, along with a higher than expected reading in wages. Notables: Health Care: Added 54K jobs, driven by gains in ambulatory health ...

Current probability is about 60/40 towards a 25 bps rate cut. There's some room for USD volatility in either direction as the market further prices in the rate cut, or prices it out. The Fed's rate cut could be a Christmas present to the stock ...

Oh for sure. I don't think this fits the dovish Fed narrative.

Dud. In line with expectations. Used Cars and Trucks increased 2.7%, rebounding from a 0.3% rise in September. Electricity rose 1.2%, following minor fluctuations in previous ...

Civilian Labor Force declined by -220K, indicating a reduction in labor participation. I've never been a big believer in the unemployment rate because of how they exclude so much of the population that maybe should be included. Individuals who ...

Temp jobs always go before full time employees. That weakness carries weight.

Big miss! An uptick in avg hourly earnings but prior revised down. The story of this release could be the downward revisions in NFP and the decline in temp jobs. Notables: Government Employment added 40K, driven by gains ...

It's unrealistic to expect a Yes or No answer. If I had to answer it'd be that they should at least slow down the rate at which they are cutting. If inflation starts to come back there will be egg on a lot of faces. Goolsbee was speaking today and ...

You take out government and social services the labor market still added 186K which was still above the 147K forecast. The manufacturing sector continues to bleed. But there wasn't any major weakness in any one sector. Where the weakness is in this ...

Last month's Avg Hourly Earnings revised higher too.

. Fed might be in trouble. They're cutting rates into a tight labor market but justifying the 50 bps rate cut pointing to a weak labor market. Not much weakness in this report at all. Food ...

Very strong report with inflation pressures persisting. Notables: Business Activity Index (59.9%) increased by 6.6%, showing a strong surge in service sector activity. This marks the third consecutive month ...

Prices paid This easing of price pressures is a positive sign for manufacturers, as it reduces the inflationary burden on their production costs, but it also reflects weakening ...

Stronger than expected. Job openings increased notably in construction, up 138K and state and local government excluding education up by 78K. Total ...

Very opposite from everything I've ever read in any of his books. The China bull!

Generally mixed. Total retail and food services sales were up 2.1% from August 2023, with strong growth driven by nonstore retailers 1.7% m/m (7.8% y/y) and food services flat m/m, but 2.7% y/y. ...