Ticker | Status | Jurisdiction | Filing Date | CP Start | CP End | CP Loss | Deadline |
---|
Ticker | Case Name | Status | CP Start | CP End | Deadline | Settlement Amt |
---|
Ticker | Name | Date | Analyst Firm | Up/Down | Target ($) | Rating Change | Rating Current |
---|
The rate of job creation in the U.S. private sector fell short of expectations in May, signaling a potential cooling in the labor market.
U.S. private employers added 152,000 new jobs last month. That’s down from 192,000 in April, according to the latest ADP National Employment Report. The outcome missed market consensus estimates compiled by Econoday which expected a rise to 173,000.
The ADP report provides an early glimpse of the Bureau of Labor Statistics’ May jobs report, which is set to be released this Friday.
Economists anticipate an increase in nonfarm payrolls from 175,000 in April to 195,000 in May. They also expect the unemployment rate to remain steady at 3.9%, with average hourly earnings projected to increase slightly from 0.2% to 0.3% month-over-month.
The U.S. Dollar Index (DXY), as tracked by the Invesco DB USD Index Bullish Fund ETF (NYSE:UUP), inched slightly up following the release.
Treasury bond yields held steady, with the 10-year benchmark yield trading at 4.32%.
Futures on U.S. equity indices fell during the premarket trading Wednesday. Contracts on the Nasdaq 100 and the S&P 500 were up by 0.3% and 0.5%, respectively, by 8:20 a.m. ET.
On Tuesday, the SPDR S&P 500 ETF Trust (NYSE:SPY) closed 0.1% higher, while the tech-heavy Invesco QQQ Trust (NASDAQ:QQQ) slightly outperformed, up 0.3%.
Image: Shutterstock