(As of 7:10 am PST)
After a strong performance yesterday, US stocks wobbled
at today’s open with most indexes trading lower. A report from payroll processor ADP showed
the private sector added just 139,000 jobs in February, up from 127,000 in
January but well below analysts estimates and certainly off the pace from
February 2013. The ADP report is often a
poor predictor of the government’s nonfarm payrolls report, however the disappointing
ADP jobs data today could be sending some nerves into the market ahead of
Friday’s jobs report. There’s a lot of
anticipation surrounding Friday’s report.
Uninspiring economic data in 2014, the Fed taper and a record high
market has investors questioning the strength of the bull run we’ve been
on. The economy continues to grow at a
moderate pace, but not convincingly.
With tightening money, international tensions and mixed corporate and
economic data, expect the back and forth between the bulls and the bears to
persist for some time. International
markets are mixed today with commodity prices and the US dollar down. Interest rates are up slightly.
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