Not for any fundamental reason, but the birth-death adjustment
for business creation may add as much as 200K to the number (Art
Cashin's been keeping tabs on this). After yesterday's low ADP
number, the consensus for tomorrow has come way down. Low
expectations and an upside number could give an excuse, however
illusory, for a strong positive reaction. It will really be
oversold conditions getting relieved, but the talking heads will
put it to 'job-creation'.
There's a good chance the report will surprise on the upside:
actually worried now
Posted by lessarda on 2nd of Jun 2011 at 12:17 pm
Not for any fundamental reason, but the birth-death adjustment for business creation may add as much as 200K to the number (Art Cashin's been keeping tabs on this). After yesterday's low ADP number, the consensus for tomorrow has come way down. Low expectations and an upside number could give an excuse, however illusory, for a strong positive reaction. It will really be oversold conditions getting relieved, but the talking heads will put it to 'job-creation'.
wow i keep forgetting
Posted by perthx on 2nd of Jun 2011 at 12:20 pm
how they can make up any number they want, and then use the boys at CNBC to spin it...and then I saw this Fed POMO schedulea minute ago...