Yesterday, the ADP survey indicated that private payrolls increased far more than expected in December. Today's weekly report on initial unemployment claims slightly missed expectations, coming in at 418 thousand people.
The number of people receiving regular state unemployment fell slightly to 4.1 million, which is good but not very good.
Today's report is the first of a week or so that has been disappointing. Almost all the economic data has been positive for the last month, clearly indicating an economic recovery.
As a result of yesterday's ADP, the expectation for tomorrow has increased, suspecting that 175 thousand were created in December. If it is much less, expect the market to go down somewhat. If it is much more, expect the market to go up strongly.
