Daily Rundown

September 10, 2026

Chart of the Day

Number of the Day

12,000

ADP’s estimate for the average increase in private payroll employment in the four weeks through August 22, the largest since late June/early July

Quote of the Day

“During the second quarter, we did not see a meaningful recovery in the more pressured consumer backdrop for the pet market. Importantly, however, we did not see further deterioration.”

Chewy CEO Sumit Singh

Wednesday’s Highlight

Mortgage purchase applications (week of 8/29) fell by 0.2 percent, as 30-year fixed rates rose.

Quick Commentary

The average 30-year fixed mortgage rate now stands at its highest level in more than a year, adding to the pressure on the still-stagnant housing market. The labor market, in contrast, looks to be improving, although not quite as much as implied by last week’s jobs report.

Today’s Highlights

Unemployment claims

PPI

Existing home sales

Daily Trivia

What is the most expensive building completed in the U.S. thus far in the 2020s, its price tag lifted by more than $1 billion for “seismic sensitivity, monitoring, and mitigation efforts”?

(Wednesday’s Question: What concept can be traced to the opening of Toyota’s Koromo plant in 1938, although it wasn’t popularized in the U.S. until Richard Schonberger’s 1982 book Japanese Manufacturing Techniques? Answer: Just-in-Time inventory management)