US ADP Employment Change Strongly Undershoots Forecasts for May, NFP to Follow?

The ADP report is used as a curtain opener for the government's Non-Farm Payroll release, but it has been a bit sporadic in how closely it predicts what the NFP figure will be. The expectations is for the economy to have added around 195K jobs.

Even though the ADP report has

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Stocks May Follow Commodities Lower

Stocks have been lagging the recent sell off in risky assets. Although they have failed to break above key levels, they remain fairly well supported and most indices have been trading sideways in the past couple of weeks. That compares with commodities, the CRB/ Thomson Reuters index has fallen nearly

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