The Macro Setup Podcast with Guy Adami and Dan Nathan

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Guy Adami and I are back with our weekly video podcast series The Macro Setup brought to you by our presenting sponsor Nadex, the leading U.S. exchange in binary options, knockouts, and call spreads.

Topics:

The All-Important May Jobs Report

The Fed will be looking in the coming May jobs report for clues as to how fast the labor market is recovering
Policy makers project a rapid recovery in the labor market this spring and summer, accompanied by moderate inflation
Recent data shows hiring slowed unexpectedly in April, and consumer prices rose at a rate that was nearly twice the Fed’s target

Oil Spikes

U.S. crude futures climbed to the highest in more than two-and-a-half years after the OPEC+ alliance forecast a tightening global market
OPEC+ committee says the oil glut built up during the coronavirus pandemic has almost gone and stockpiles will slide rapidly in the second half of the year
WTI crude oil is up more than 40% YTD

Bitcoin Bust is Worst in Years

Bitcoin was down 37% in May
Gold rallied more than 6% in May, its best month in nearly a year
JPMorgan analyst says May crash in has badly weakened institutional demand, which is likely to keep prices under lower for now

CHARTS:

SPX 1yr