US stock index falls, high employment expectations may lead to disappointment🫢
Due to the explosion of ADP data, today's market expectations for non-agricultural data have undoubtedly increased. However, Goldman Sachs warned that June's data tend to be more limited in terms of employment growth due to seasonal reasons, so high expectations may bring disappointment. In terms of stocks, all sectors of the SPX index fell yesterday as the market was worried that yields would return to the main axis of continued rise. In addition, JPMorgan Chase's survey data showed that the risk exposure of institutional money managers was close to the highest level in history. If there is an unexpected sell-off in the third quarter, the current market layout will be difficult to cope with.
