Early Morning with Dave

Early Morning with Dave

NFP Takes Center Stage, Will it Help the Hawks or Doves?

All eyes on today's NFP report after Wednesday's heavy miss in ADP

Oct 06, 2023
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Highlights

  • All eyes are on today’s NFP report...

  • ... where we will learn whether labor market conditions will offset or reinforce the hawkish Fedspeak of late

  • Challenger Survey showed the second highest retail layoffs in September in 20 years

  • Cyclical segments of the economy are deflating and the core PCE deflator is running at 2.2% annualized — not too far-off from the “holy grail” of 2%

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