The Dow Jones Industrial Average (^DJI 0.67%) inched up 20 points Wednesday, but all Wall Street cared about is the big official June jobs report due out Thursday morning, just before the stock market closes early for the long holiday weekend.

1. ADP predicts 281,000 new jobs in June
The number of the day is 281,000. Not only is that the number of situps in Cristiano Ronaldo's bench press-less morning workout routine, but it's also the number of new jobs that payroll-tracking firm ADP announced that the U.S. added last month.

Is that good? Good question. ADP's figure is well above the 200,000 economists expected. Plus, the number of new construction jobs brought the industry's total to its highest level since '06. Although U.S. GDP has surprisingly fallen so far in 2014, the solid jobs numbers are a sign that the underlying economy is strong and the manufacturing and production sectors were just temporarily affected by the tough winter.

The takeaway is that these ADP figures are worth tossing some extra bacon on your burger, though they are just an estimate. What Wall Street really cares about is the official number of jobs added last month according to the U.S. government. The Labor Department will announce that number on Thursday morning, just before the holiday traffic begins.

2. Short-sellers ruin GoPro's stock price after four-day rally
I wish we had GoPro'd that insane run that GoPro (GPRO -0.59%) made in its first days as a publicly traded company -- because it's over. Pessimistic short-sellers who worship the religion of Schadenfreude made sure to fix what they saw as over-excitement about the popular camcorder company, so they sold stocks and nailed the price, sending it down 14% Wednesday.

Short-sellers borrow stock from their brokers so that they can sell it. The plan is to buy it back in the future at a lower price, so these naysayers will profit if GoPro's stock price falls. In the short term, reports came in that it was almost impossible to borrow GPRO stock Wednesday, because so many traders were shorting it.

Why all the hate from Wall Street? Because the company made $60 million profit in the past year and its market cap (the number of shares times the share price) has already ballooned to over $5 billion in the first days of trading. Since last week's IPO, the company has risen 31%, 14%, 13%, and 20% in its only days trading on Wall Street.

The takeaway is that GoPro has a lot to prove. The major selling of the stock Wednesday shows that there are a lot of very skeptical investors out there. Are there enough snowboard-riding and skydiving adrenaline junkies to make GoPro the profits it needs to satisfy investors?

As originally published on MarketSnacks.com