Ahead of Friday’s Jobs Report, we see today’s JOLTS Report which shows that there is one job opening for every person who is looking for one.  That sounds perfect, right?  Two years ago, there were two jobs for every one applicant, which caused skyrocketing salaries to lure in would-be applicants.  And now, the right-sizing in the labor market should help wage-based inflation to slow dramatically.

Perhaps a result of feeling the pinch in the paycheck, today’s Consumer Confidence dropped to 86 from from 92.9 last month.  A reading of 80 or below portends recession.

The FHFA reported home values are up 3.9% from this time last year, which is down from the last few years.

More heavy-hitters tomorrow, but for right now, interest rates are poised to move lower.