Daily Trader: Jobless Claims Set Bar for September Jobs Report #shorts

Good morning everyone and welcome to the daily trader. We've got some pre jobs number data that is coming out uh so far this morning. We got [snorts] challenger job cut early in this morning. Corporate layoffs kind of a blunt broad number. They don't break it down very well, but the number dropped from 52,881 to 43,281, the fewest since 2022 for corporate layoffs. strong labor market. Jobless claims 197,000 first-time filers for unemployment insurance. A historically low number and the trend remember LA last week was 197 revised to 198 but low numbers for jobless claims. Then we got some PMI manufacturing final index jumped to 55.9. That's a nice strong number. We got the ISM manufacturing index that uh made a nice jump from 54.6 came in 54.5 but the numbers within the numbers are important here. Prices paid 77.9 up 6.8 points. New orders 55.3 up 1.6 percentage points. So strong prices paid here. That's why the bonds firmed up when that number came out. Now Looking towards tomorrow's number, we have to go through the entirety of the data for the week. Jolts was lower job openings than expected. That's a little bit of a counter trend to what we've been seeing. ADP better than expected. 90,000 [snorts] private payrolls. That's what we're looking for for the entire non-farm payroll nut number tomorrow. So, that puts us on alert there. Then today's numbers still indicative of a strong labor market both corporate and first-time filers for unemployment insurance. Tomorrow number what what we're looking for 90,000 non-farm payrolls 4.1% unemployment rate that we're watching very closely because of the jobless claims numbers. Wages something around.3 and 3.1% was last month. We'll look for that. Remember, wages have been coming down. That's that'll be our first full inflation number of this past month. So, we'll watch that as well. Now, with that being said, where do we sit going in? With yields at 5.27 and crude oil at 9190, up about 1.6%, 6%. We've got a very precarious market that's looking for some type of of of idea of where this is going. We'll check it tomorrow. We'll see you tomorrow on another edition of the Daily Trader.