Morning Dose #314: Cautious Before the Bell: Jobs Day, Narrowing Breadth, and the CPI Fuse – Friday 8/7/2026

Episode summary

Futures are green heading into the 8:30 jobs report, but breadth is deteriorating fast and bears now outnumber bulls. The team breaks down the hawkish Fed backdrop, a collapsing breadth measure, a split earnings tape rewarding guidance over beats, and a tight, selective playbook for trading around the payrolls report.