ADP Private Payrolls in-line with expectations this morning, adding 216,000 jobs for the month. Joe Weisenthal is saying that this particular ADP should be more simpatico with Friday’s NFP report than any other – going back to 2006 the February ADP has had the smallest differential with official BLS stats.
Mittens squeaked out with a victory last night in enough states to get the eleven people who really care excited. The GOP is now in the uncomfortable position of hoping the recovery stalls between now and November, expect some seriously f’d up rhetoric if Friday’s job number is good.
No one is doing anything between now and 1pm ET – that’s the time when Apple rolls out the iPad 3, ostensibly. Genius Bar employees will be standing by in a local river, so you can come down and be baptized into the cult. Business and tech reporters must not be disturbed right now, they are already deep into their pre-event trance.
Stocks bouncing meekly from yesterday’s sell-off. We did some nibbling at long positions yesterday and will probably do some more today.