NFP Overview
June 5th 2026 - SPX & SPX Index Options Performance
All major US indices going into tomorrows NFP report at highs. Recent weakness in semis offset by rotation into lagging sectors as short term correlations near historic lows.
JPM once again expecting ‘goldilocks’ print, below highest expectations not to re-ignite inflation concerns but not too low to trigger recession panic.
So far, revisions are coming in exactly in the ‘goldilocks’ zone… weak enough to keep the rate cut hopes alive even through 4% inflation…
SPX straddle for tomorrow went out at ~50bps. Lowest since Dec 2024 and barely any premium for a data release.
Historic NFP data (from https://www.bls.gov/web/empsit/cesnaicsrev.htm):
Final revision sum:
Final revisions continue to come in negative relative to initial forecasts.
Overnight SPX Straddle performance:
