Is the turning point coming tonight!?

The whole Wall Street is focusing on two data points tonight, the first is the ADP employment data at 9:15.

If the actual result is below 13.9, it is a positive; if above, it is negative.

At 9:30, the initial claims for unemployment benefits will be released, with a result above 21.5 being positive and below being negative.

The current logic is that with a hot job market and rising inflation, a decrease in employment numbers is beneficial to suppress inflation and for the Federal Reserve to cut interest rates.

I think the market has already priced in most of the negatives, so even if the data exceeds expectations tonight, it may not drop significantly. However, if it is positive, then a big rebound could be on the way~