Tonight's non-farm payroll may also report, is the bull market gg?

The "mini non-farm payroll" and Fed Minutes are coming tonight. At 21:15 Beijing time on Wednesday, the US December ADP employment change data will be released. This data, known as the "mini non-farm payroll," is expected to trigger significant market movements. Surveys indicate that US December ADP employment is expected to increase by 140,000. Previously, US November ADP employment increased by 146,000.

Additionally, at 03:00 Beijing time on Thursday, the Federal Open Market Committee (FOMC) will release the December monetary policy meeting Minutes. The Minutes may reveal more clues about future policy paths, especially regarding whether the Fed has truly turned hawkish. At the December meeting, the Fed cut rates by 25 basis points as expected, with officials predicting only two rate cuts in 2025. Fed Chair Powell stated that further adjustments will depend on the trajectory of inflation.