August 31, 2017
It’s the last trading day of the month, and it will be a day rich with economic data as traders try to divine the direction of the economy. If yesterday’s ADP Employment Report is any indicator, things are looking up. According to the big payroll processing firm, 237,000 new jobs were created during the month. That exceeded expectations by almost 30 percent. The official word on new jobs comes from the Labor Department tomorrow.
This morning, while the Challenger Job Cut Report told us that layoff announcements rose to almost 34,000 in July, the biggest increase in job losses come in construction. But given the disasters in Texas and Louisiana this past week, those layoffs may get rescinded before they result in actual job losses.
Reports on Personal Income and Spending come at 8:30 and are expected to reveal a four-tenths of a percent jump in personal income and only a one-tenth...