Nonfarm Payrolls Unexpectedly Jump in September.
Better-than-expected jobs numbers, lower unemployment and a temporary end to the dockworkers' strike are sending pre-market futures higher this morning.
Automatic Data Processing Inc (ADP, Financial) has recently captured the attention of investors and financial analysts with its strong financial performance. With a current share price of $283.24, despite a minor daily loss of 0.49%, ADP has shown a significant three-month gain of 20.38%.
Stronger-than-expected U.S. payroll data pushes the Dollar Index higher, pressuring gold and weakening the euro. What does this mean for traders?
U.S. stocks experienced modest gains with the Dow Jones Industrial Average rising by 68.04 points (0.16%) to 42225.01 points. The Nasdaq Composite increased by 51.52 points (0.29%) to 17961.88 points, and the S&P 500 index climbed by 7.36 points (0.13%) to 5716.11 points.
Pre-market futures are mixed this morning, after kicking off Q4 yesterday with a port strike affecting 35% of U.S. imports and an attack on Israel from Iran, escalating Middle Eastern tensions which have grown in the wake of October 7th of last year. The Dow is -65 points and the S&P 500 is -5, but the Nasdaq is +20 atb this hour.
ADP released private-sector payrolls this morning, and results were better than anticipated.
Neils Christensen has a diploma in journalism from Lethbridge College and has more than a decade of reporting experience working for news organizations throughout Canada. His experiences include covering territorial and federal politics in Nunavut, Canada.
Neils Christensen has a diploma in journalism from Lethbridge College and has more than a decade of reporting experience working for news organizations throughout Canada. His experiences include covering territorial and federal politics in Nunavut, Canada.
This morning, the long-awaited Employment Situation report of non-farm payrolls from the U.S. Bureau of Labor Statistics (BLS) is out, with numbers perhaps stronger than the “whisper number” on Wall Street, but nevertheless weakening over the course of the year. Headline +142K was lower than the consensus +160K expected, but notably higher than the +99K from the ADP ADP private-sector August payrolls yesterday.
Headline BLS is -19K below expectations, and we also see fairly drastic downward revisions for both June and July.
Joel Greenblatt's Magic Formula combines value and quality investing. By focusing on earnings yield and return on capital, it has achieved 40% annual returns for 21 years. The market's recent selloff, driven by weak manufacturing data, is an opportunity to buy high-quality undervalued dividend blue-chip stocks using Joel Greenblatt's Magic Formula. September's market volatility is average. Focus on long-term investment strategies rather than knee-jerk reactions to short-term data.