ADP is coming out soon.



The market is very conflicted now: good data → Warsh has more confidence to raise rates → tech stocks under pressure. Bad data → recession narrative returns → still under pressure. The Nasdaq, up 20% in Q2, has very little room for error.

VIX at 16.45 looks calm, but with tomorrow's Nonfarm + Friday's market closure, I bet volatility won't be small. Last month ADP was +122k, JOLTS reported 7.59M last night, beating expectations (job openings still there), and consumer confidence missed again. Signals are conflicting, and the market ultimately only looks at Nonfarm.

Tonight, just watch and do nothing.

#ADP #非农 #纳斯达克
NAS100-0.36%
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