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<p>The <a href="https://www.wsj.com/articles/pepsico-to-lay-off-hundreds-of-workers-in-headquarters-roles-11670276051" target="_blank" rel="nofollow">Wall Street Journal</a> (gated) with the report:</p><ul><li>PepsiCo is laying off workers at the headquarters of its North American snacks and beverages divisions, a signal that corporate belt-tightening is extending beyond tech and media, according to people familiar with the matter and documents reviewed by The Wall Street Journal.</li><li>Hundreds of jobs will be eliminated.</li></ul><p>---</p><p>This follows the upside surprise in the US jobs numbers published last Friday:</p><ul><li>US November non-farm payrolls +263K vs +200K expected</li></ul><p>Of course the headline is not all that it seems:</p><ul><li><a href="https://www.forexlive.com/news/forexlive-americas-fx-news-wrap-jobs-headlines-strong-but-the-market-has-questions-20221202/" rel="follow" target="_self" class="article-link vertical-align-baseline">Forexlive Americas FX news wrap: Jobs headlines strong but the market has questions</a></li></ul><p>And of course, today we had another sign of strength:</p><ul><li><a href="https://www.forexlive.com/news/forexlive-americas-fx-news-wrap-good-is-still-bad-news-as-ism-services-crushes-stocks-20221205/" rel="follow" target="_self" class="article-link vertical-align-baseline">Forexlive Americas FX news wrap: Good is still bad news as ISM services crushes stocks</a></li></ul><p>The Pepsi news muddies the waters further. </p><p>Anyone who has simple answers on the state of the globe is simply wrong. </p>

                This article was written by Eamonn Sheridan at forexlive.com.