Excerpt from our One Page Annotated Wall Street Journal Summary (which you can get emailed to you every morning by signing up here):
AHEAD OF THE TAPE: Prediction Market
Summary: The Labor Department releases its monthly jobs growth number today. Payroll processing company Automatic Data Processing (NASDAQ:ADP) and economics forecasting firm Macroeconomic Advisors published a report Wednesday suggesting the number should come in "well over 350,000", in contrast to investors' earlier expectation of about 200,000. However, the ADP-Macro Advisors prediction may be inaccurate due to imperfect seasonal adjustment and a short and recently flawed track record. In contrast, the Institute for Supply Management's indexes for manufacturing and nonmanufacturing employment suggest jobs growth could be weak.