Welcome to See King Alpha's Wall Street Breakfast, where we cover the top news for investors every morning.

Thanks for joining us today. I'm Julie Morgan, host of Wall Street Breakfast, Seeking Alpha's Daily flagship podcast.

This is our weekly show all about the catalyst for the upcoming week.

I'm joined by Kim Kahn, he's the senior managing news editor at Seeking Alpha, and the host of our new afternoon show, Wall Street

lunch.

Kim, I know the big story for next week is CPI, but let's pause just for a moment and talk about the jobs numbers that just came out.

We're recording now on Friday, July 7th.

And so the jobs numbers just came out.

Tell me about those.

Yeah, we had June payrolls rise by $209,000 coming in below expectations. That's first time in many months, it's missed. And it was kind of a weird jobs report as there was a huge jump in the ADP private payroll numbers the day before, double estimates, saying nearly 500,000 jobs were added and the markets really traded off that and you have

rates spiking and stocks going down and this is all despite the fact that in the

investing community everybody says oh everybody knows ADP isn't really correlated

the official figures we always kind of dismiss it, but I guess this one was too much of a temptation not to dismiss. So this jobs figure today looked really, really kind of anemic compared to yesterday's ADP number and below expectations but actually underneath

it was another gain of more than 200,000 jobs and unemployment rate falling again down to 3.6%. So I think the market eventually focused on that and

saw like another solid jobs report and something that may be where the Fed is higher than expected wage growth.

Tell me about C. P. Next week. Well, the C. P. is coming out next Wednesday and it's going to be the

last big number before the Fed meeting in July.

The expectations are for a 0.3% rise on headline

and on core, which should bring down the annual rates again.

So people are looking for this continued decline in US inflation, hoping that trend continues.

And the Fed will of course be watching very closely. The market seems to already made up his mind. It's pricing in more than 90% chance that they're going to hike by a quarter point in their next meeting.

Okay, so tell me this. What does this mean for everyone outside the Fed?

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