A number of important things for you to consider this morning.
First, despite claims of finally achieving an economic miracle and ever ascending stock market, ADP just had the worst miss since 2010. There were 208K jobs created Vs. 222K expected. Typically, November is seasonally strong month where we shouldn’t see such big drops. And that begs the question, are we at full employment or is the US economy on a verge of a massive recession? I think you know the answer to that.
Second, according to various media sources Ukraine nuclear accident (5th largest power plant in the world) ‘no threat’: Minister. This is definitely a story worth following as we might have another Chernobyl on our hands. Despite official claims to the contrary, you can never trust Ukrainian officials. If you recall, it wasn’t until a massive nuclear cloud reached Finland in 1986 that Soviet officials had to confirm Chernobyl’s accident. A week later. Let’s hope for the best here.
