There are two key datapoints coming out Wednesday that we’re particularly excited to see.— The ADP jobs report. This comes out at 8:15 AM ET, and analysts expect 218K new jobs created. Remember, this measure only covers the private sector — so it doesn’t take into account layoffs at the state and local level — but it’s a pretty big pre-game show for Friday’s NFP.
— At 3:00 PM, we get Consumer Credit. This number has been rebounding nicely lately, though the revolving side (credit cards) has still been a little choppy. Analysts expect around $12 billion in new consumer credit created, up from $10 billion last month.