The job market continued to slow down last month if one indicator is to be believed—but that’s a pretty big if. Attention now turns to the release Friday of the government's monthly jobs report.

Annual pay grew 4.8% year-over-year, payroll giant ADP reported Thursday, as the job market showed further signs of a cooldown.

Initial prints have mostly understated private payroll growth this year. Private payrolls likely increased ... PPI stuck in deflation 10:37 AM UTC Macro Matterscategory China's exports likely slowed further in August as trade tensions mount: Reuters ...