July 2, 2021
Good morning,
Not much to write about this morning, it will be a low volume Friday ahead of THE holiday weekend in NYC – my gosh, I’d forgotten how the city absolutely clears out this week. Fortunately it’s for good reasons this year.
The June employment numbers were released this morning and came in +850,000 vs +720,000 estimated. The markets reaction is one of relief more than anything else since the data resembled expectations unlike the prior few months. Futures (S&P kind) popped up about 8pts (+.2%), the VIX has a 14 handle again, and that may be it for the day before the cash market even rings the opening bell.
Not quite ready to join the last minute exodus, but I’ll finish here. I hope you have happy, safe and deeply relaxing weekend (‘cause that’s what I’m shooting for 😊).
Be well,
Mike