After the May rally, markets are hyper-focused on economic data with the Jobs report just over the horizon 🌅. @mreinking will break it all down in this week’s #NYSEBriefs. pic.twitter.com/b366zJKDV0

May nonfarm payrolls +272k vs. +180k est. & +165k in prior month (rev down from +175k) pic.twitter.com/nSJ6eydBo8

Layoff announcements (orange) have been elevated over past year, but not to levels associated with prior recessions; also not consistent with a material increase in jobless claims (blue) pic.twitter.com/mrYQiP6PQu

The US Unemployment Rate is now 0.6% above the cycle low from April 2023 (3.4%). Historically, that 0.6% move higher has occurred near the start of a recession... bilello.blog/newsletter pic.twitter.com/RlTU1TJozd