Jobs -- August 5, 2022

Post-Pelosi: China will end climate change initiatives. Consider that another win.

Gasoline demand: link here.  

• then explain:
• gasoline under $4.00 / gallon and dropping fast;
• WTI below $90 and dropping fast;
• US refiners operating at a very low capacity; trending toward 90% of their operating capacity; lowest in the last few years;
  

It's all about jobs today. But once the numbers come out, traders will forget about them in less than a nano-second. Trust me. See if anyone is talking about jobs on Monday. Link here.

• some say the unemployment drop to 3.5% is a record low. I don't know.
  
• July nonfarm payrolls: 528,000 vs 250,000 forecast
• and there are still a gazillion "now hiring" signs / "signing" bonuses;

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Currently I am on the road: my notes will be less frequent, perhaps shorter. I will not get to my e-mail as often and I will not be able to post comments as often or in a timely manner.