“The next important data point for the latter will be Friday’s Employment Situation Report, where consensus is 84,000 jobs added as a headline number and 100,000 added in the private sector. Our monthly review of the U.S. Treasury’s individual tax receipt data shows that these estimates may well be too optimistic. Last month saw a year-on-year decline of 0.3% in total personal tax receipts … the first such decline in 2011.”
Technical analysts are watching a developing so-called head-and-shoulders pattern in the S&P 500. [Pattern Developing?]
Gold ETFs opened higher Wednesday as the metal’s price climbed to another nominal record. [Gold ETFs Run]
SPDR S&P 500
