, Columnist
What to Watch Out For in the Inflation Numbers
For the first time in a long while, they’re coming out on a Friday. And they’ll matter a lot more than payrolls.
Gasoline prices in Los Angeles ahead of Thanksgiving.
Photographer: Chris Delmas/AFP/Getty
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The rhythms of markets are disconcertingly fixed and settled. For years now, the monthly “Payrolls Friday” has been part of my life. Payrolls data is often flawed and subject to huge revisions, but it’s an accepted ritual that it really, really matters. Traders are ready and poised at 8:30 on a Friday morning waiting for the numbers that will determine a messy final day’s trading for the week.