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Baffled Analysts Have No Idea What They Want in Jobs Data

  • May ADP data shows companies added fewest workers since 2010
  • Economists expect an increase of 175,000 in payrolls on Friday
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What Equity and Gold Investors Will Be Watching in the Jobs Report
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While forecasting cause and effect is always hard in financial markets, Wall Street’s best minds are having a particularly brutal time deciding if they want Friday’s payroll data to come in high or low.

Anticipation is running hot. Anticipation of what, is a separate question. Will a weak report boost rate-cut odds? Or maybe the cuts are priced in and the sight of a tanking economy will sow terror. Maybe solid data will douse recession fears. Or maybe just stiffen resolve against easing.