Massive Decline in Challenger Hiring Plans

Hiring announcements: plunging -58% year-over-year to an 11-year low of 9,802 for April

Highlights

• Mixed employment data ahead of today’s NFP report

• Apple provides support to the major averages

• The equity market has to prove itself after recent volatility and slate of negative reversals

• The BoC should start cutting rates… now!