Future Without Massie

ADP Employment Report Signals Biggest Job Additions In 15 Months In April With non-farm payrolls looming, we get another glimpse at the labor market today from the ADP Employment Report which shows the US economy added 109k jobs in April (a slight disappointment relative to +120k exp). That is the tenth straight month of job additions and strongest monthly addition since January 2025... Source: Bloomberg Under the hood, Goods-producing jobs rose 15,000 while Service-providing jobs rose 94,000. "Small and large employers are hiring, but we're seeing softness in the middle," said Dr. Nela Richardson Chief Economist,...

Them's Fightin' Words By Benjamin Picton, Rabobank Senior Market Strategist Resigned Brent crude front-month futures are inching higher this morning after ending May down almost 20%. The May selloff has been courtesy of Mr Market’s Pavlovian response to fresh peace rumours, though it still remains the case that a deal has not been done and the Strait of Hormuz remains closed. US equity indices closed higher across the board on Friday, but Asian stocks are mixed in early trade today. The S&P500 has now had nine-consecutive positive weekly closes and is sitting at...

Shares Of Infrastructure Developer Erupt On Gulf Energy Reconstruction Prospects The two-week U.S.-Iran ceasefire looks more like a pause in the six-week conflict than a long-lasting agreement, with language so broad and vague that it remains unclear who conceded what. The one clear point is that Iran's reported willingness to allow vessel transits through the Strait of Hormuz was enough to send crude prices tumbling from triple-digit territory and spark a global relief rally across equities and bonds. Everyone is breathing a sigh of relief on Wednesday morning, and traders are...