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Automatic Data Processing (ADP) has an average rating of hold and mean price target of $258.14, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://finwires.com/en/contact)Price: $278.11, Change: $+13.94, Percent Change: +5.28%
Automatic Data Processing (ADP) has an average rating of hold and mean price target of $258.14, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://finwires.com/en/contact)Price: $279.25, Change: $+15.08, Percent Change: +5.71%
Automatic Data Processing (ADP) is expected to post a modest fiscal Q4 beat and issue 2027 guidance in line with Wall Street's consensus, RBC Capital Markets said Monday in a report.Q4 projections are supported by stable client retention, 1% growth in revenue per payroll run, and bookings growth in the upper half of the company's 4% to 7% guidance range, RBC said.ADP is expected to report revenue of $5.46 billion, above the $5.44 billion consensus, while earnings per share are expected to reach $2.62, ahead of the $2.59 estimate, RBC said."This outlook reflects favorable year-over-year comparisons, a solid pipeline, and broad-based momentum across the business," the report said.In fiscal 2027, ADP's revenue growth guidance is expected at 5% to 6%, in line with consensus estimates. Margin expansion of 60 to 80 basis points is expected to support EPS growth of 9% to 11%, the report said.RBC has a sector perform rating on ADP stock with a $290 price target. Q4 results are due July 29.Price: $247.22, Change: $+5.30, Percent Change: +2.19%
Automatic Data Processing (ADP) has an average rating of hold and mean price target of $251.36, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://finwires.com/en/contact)Price: $239.64, Change: $-1.73, Percent Change: -0.72%
Applications for unemployment insurance in the US unexpectedly declined in the latest week as labor market conditions appeared to hold steady, government data showed Thursday.For the week through July 4, the seasonally adjusted number of initial claims declined by 2,000 to 215,000 from the previous week's average that was adjusted upwards by 2,000, the Labor Department said. The consensus was for a 217,000 print in a Bloomberg poll.The four-week moving average fell by 3,750 to 218,750 from the prior week's average, which was revised higher by 500. Unadjusted claims rose by 9,967 on a weekly basis to 224,583."Initial jobless claims were a touch lower in the week ended July 4, consistent with the low and stable layoff rate that has defined the labor market in recent months," Matthew Martin, senior US economist at Oxford Economics, said in a note e-mailed to. "Summer auto plant shutdowns are running well below prior year levels, which will pressure the seasonally adjusted data lower in the coming weeks."Seasonally adjusted continuing claims came in at 1.81 million for the week ended June 27, roughly in line with Wall Street's views. Continuing claims rose by 8,000 from the previous week's downwardly revised level. The four-week moving average grew by 7,000 to about 1.81 million from the prior week's average, which was revised down by 2,000, according to the report."Claims are holding steady, so there is little evidence of any mounting slack in the labor market," Jefferies Chief US Economist Thomas Simons said in a report e-mailed to.Based on the claims data, along with last week's nonfarm payrolls figures and ADP's (ADP) private-sector hiring report, Simons said "it seems like the labor market is settling into a pace of job creation that is right in line with the amount necessary to keep the unemployment rate steady."Last week's data showed the US economy added fewer jobs than expected in June while gains for the prior two months were revised lower. According to the latest ADP report, private-sector employment increased less than expected last month.The unemployment rate ticked down to 4.2% in June from the prior month's print of 4.3%.Price: $239.24, Change: $-2.13, Percent Change: -0.88%
(Updates with market moves at the end of the day.)The Dow Jones Industrial Average snapped its record run Wednesday as traders assessed fresh labor market data and comments from Federal Reserve Chair Kevin Warsh.The Dow ended the session just below the flatline at 52,305.2 after logging closing highs in the past two sessions. The Nasdaq Composite fell 0.7% to 26,040, while the S&P 500 slipped 0.2% to 7,483.2.Among sectors, technology saw the steepest decline, while communication services paced the gainers.In economic news, employment in the US private sector increased less than expected in June, according to ADP (ADP) data released Wednesday, a day before the Bureau of Labor Statistics is scheduled to release its widely watched nonfarm payrolls report."The pace of hiring is telling a story of both supply and demand. We know it's taking people longer to find work, but there also are signs of labor supply constraints in certain industries," ADP Chief Economist Nela Richardson said. "For now, the overall effect is a slowdown in job creation."Separately, Challenger Gray & Christmas said American employers announced 45,849 layoffs last month, down 53% from May and 4% from a year earlier. The reading marked the lowest monthly total since December 2025.The US economy is projected to have added 115,000 jobs in June, according to a Bloomberg-compiled survey. The monthly nonfarm payrolls report, which is usually released on a Friday, will be published on Thursday as US stock and bond markets will be closed Friday for the Independence Day holiday.Warsh, speaking at a European Central Bank forum in Portugal Wednesday, said inflation risks have eased, suggesting the central bank may be headed for another policy pause.The Fed remains committed to deliver price stability in the US, he said, reiterating what the Federal Open Market Committee said in its June policy statement."Inflation risks have come down," Warsh said. "If there were people in household or the business sector or the financial markets who thought that this central bank was going to be comfortable with an inflation objective above 2%, well, I guess they'd be disappointed."Markets expect the Fed to keep rates unchanged again when it meets toward the end of July, according to the CME FedWatch tool."The chairman's more favorable assessment of price pressures suggests an underlying support for maintaining the current level of policy as opposed to rate hikes," Stifel Chief Economist Lindsey Piegza said in a note.US Treasury yields were mixed, with the two-year yield down 1.7 basis points at 4.18% and the 10-year yield up 1.7 basis points at 4.49%.West Texas Intermediate crude oil was down 2.1% at $68.01 a barrel in Wednesday late-afternoon trade, while Brent fell 2.5% to $71.16.In company news, Meta Platforms (META) is building a cloud infrastructure business to sell access to AI computing power and models, setting up a new area of competition with Amazon (AMZN) Web Services, Microsoft (MSFT) Azure, and Alphabet's (GOOG, GOOGL) Google Cloud, Bloomberg reported.Meta shares jumped 8.8%, the third-top gainer on the S&P 500, while Microsoft rose 3%, the third-best performer on the Dow. Amazon advanced 1.4% and Alphabet's class A shares added 1.1%.Nike (NKE) climbed 4.9%, the best performer on the Dow, after the sportswear giant reported fourth-quarter results late Tuesday.The company's latest quarterly results and sales guidance indicate a "choppy" turnaround for the sportswear company amid continued headwinds in China, BofA Securities said.Gold was last up 0.2% at $4,048.20 per troy ounce, while silver fell 0.4% to $59.69 per ounce.
(Updates with latest market prices and developments.)US benchmark equity indexes were mixed intraday as traders parsed fresh labor market data ahead of a key jobs report due out Thursday and comments from Federal Reserve Chair Kevin Warsh.The Dow Jones Industrial Average was up 0.4% at 52,512.9 after midday Wednesday. The index hit new all-time highs in the past two days. The S&P 500 rose 0.1% to 7,510 intraday Wednesday, while the Nasdaq Composite fell 0.2% to 26,170.6.Among sectors, communication services paced the gainers, while utilities and technology were leading the laggards.In economic news, employment in the US private sector increased less than expected in June, according to ADP (ADP) data released Wednesday, a day before the Bureau of Labor Statistics is scheduled to release its widely watched nonfarm payrolls report."The pace of hiring is telling a story of both supply and demand. We know it's taking people longer to find work, but there also are signs of labor supply constraints in certain industries," ADP Chief Economist Nela Richardson said. "For now, the overall effect is a slowdown in job creation."Separately, Challenger Gray & Christmas said American employers announced 45,849 layoffs last month, down 53% from May and 4% from a year earlier. The reading marked the lowest monthly total since December 2025.The US economy is projected to have added 115,000 jobs in June, according to a Bloomberg-compiled survey. The monthly nonfarm payrolls report, which is usually released on a Friday, will be published on Thursday as US stock and bond markets will be closed Friday for the Independence Day holiday.Warsh, speaking at a European Central Bank forum Wednesday, said inflation risks had eased."Inflation risks have come down," The New York Times quoted Warsh as saying during the event in Portugal.Warsh reiterated commitment to price stability."If people thought this central bank was going to be comfortable with an inflation objective above 2%, they would be disappointed," Warsh said, as reported by Reuters.The US manufacturing sector continued to expand last month, though the pace of growth moderated as higher raw material costs kept input inflation elevated, separate surveys by the Institute for Supply Management and S&P Global (SPGI) showed.US Treasury yields were higher intraday, with the two-year yield up 2.1 basis points at 4.16% and the 10-year yield up 4.5 basis points at 4.47%.West Texas Intermediate crude oil was down 1.8% at $68.28 a barrel intraday, while Brent fell 2.3% to $71.27.In company news, Meta Platforms (META) is building a cloud infrastructure business to sell access to AI computing power and models, setting up a new area of competition with Amazon (AMZN) Web Services, Microsoft (MSFT) Azure, and Alphabet's (GOOG, GOOGL) Google Cloud, Bloomberg reported.Meta shares were up 9.7% intraday, the third-top gainer on the S&P 500, while Microsoft rose 3.9%, the second-best performer on the Dow. Amazon was up 2.4% and Alphabet's class A shares added 0.5%.Nike (NKE) advanced 2.1%, after the sportswear giant reported fourth-quarter results late Tuesday. The company's latest quarterly results and sales guidance indicate a "choppy" turnaround for the sportswear company amid continued headwinds in China, BofA Securities said.Gold was up 1.1% at $4,083.60 per troy ounce, while silver advanced 1% to $60.51 per ounce.
Employment in the US private sector increased less than expected in June, according to ADP (ADP) data released Wednesday, a day before the Bureau of Labor Statistics is scheduled to release its widely watched nonfarm payrolls report.Private jobs advanced by 98,000 last month, ADP said. The consensus was for a 120,000 increase in a Bloomberg-compiled survey. Job gains in May were left unrevised at 122,000, according to the payrolls processing firm."The pace of hiring is telling a story of both supply and demand. We know it's taking people longer to find work, but there also are signs of labor supply constraints in certain industries," ADP Chief Economist Nela Richardson said. "For now, the overall effect is a slowdown in job creation."Economists surveyed by Bloomberg expect nonfarm payrolls to rise 115,000 in June, which would be down from a 172,000 gain in May. That monthly report, which is usually released on a Friday, will be published on Thursday as US stock and bond markets will be closed Friday to observe Independence Day.The services sector added 96,000 jobs last month, led by a 48,000 jump in education and health services, ADP said. Employment in the goods-producing sector grew by 2,000.Annual wage growth for job changers accelerated to 6.6% in June, while gains were little changed at 4.4% for job stayers, the ADP report showed."ADP private payroll data continued its string of positive monthly gains in June, and the data hasn't shown a monthly decline in 12 months," Oxford Economics Senior US Economist Matthew Martin said in remarks emailed to. "Broad-based growth suggests this isn't just a healthcare services story."Separately, Challenger Gray & Christmas said American employers announced 45,849 layoffs last month, down 53% from May and 4% from a year earlier. The reading marked the lowest monthly total since December 2025."The pace of layoffs cooled considerably in June, similar to plans last June, and as is typical for summer months," Andy Challenger, the firm's chief revenue officer, said in a statement. "That said, the cuts we are seeing remain concentrated in technology, and artificial intelligence continues to reshape how companies think about headcount."For the second quarter, employers announced a total of 226,242 layoffs, up 4% from the previous three-month period, but down 9% year on year.Price: $235.74, Change: $+11.79, Percent Change: +5.26%
The US economy added more jobs than projected in May, while economists said upward revisions to payrolls growth in the two prior months indicated momentum in hiring activity.Total nonfarm payrolls rose by 172,000 last month, the Bureau of Labor Statistics said Friday, nearly double the 88,000 increase expected in a Bloomberg-compiled survey. April's gain was upwardly revised to 179,000 from the initial 115,000, with March's tally also getting a boost, to 214,000."Overall, this was a solid employment report," Thomas Feltmate, senior economist at TD Economics, said. "Not only did headline payrolls come in stronger than expected, but revisions to prior months were meaningfully higher and well above six-and-twelve-month averages, suggesting some reacceleration in hiring activity."Private payrolls increased by 120,000, exceeding the consensus for a gain of 89,000, but the pace slowed from 177,000 the month prior, the BLS reported. The unemployment rate was steady at 4.3%, which matched Wall Street's projection.The BLS report showed employment gains across manufacturing, construction, healthcare and hospitality."Job growth is no longer exclusively being driven by acyclical sectors like healthcare and social assistance, with more cyclically sensitive sectors like manufacturing, construction and leisure and hospitality also contributing," Feltmate said.Earlier this week, ADP (ADP) reported stronger-than-expected private-sector hiring for May, while Challenger Gray & Christmas said job cut announcements in May hit the highest for the month since 2020.Markets largely expect the central bank's Federal Reserve to leave interest rates unchanged at its policy meeting later this month, which would mark its fourth straight pause, according to the CME FedWatch tool."The labor market found its footing over the last three months, and job growth appears to be running well-above estimated breakeven levels," Scott Anderson, chief US economist at BMO, said in a report. "While great news for workers and consumers that are struggling with higher prices, it makes the Fed's next move all the more complicated."Fed officials flagged the possibility of higher interest rates if the Middle East conflict keeps inflation above the 2% goal, according to the minutes from the central bank's April meeting."The doves' case that the labor market is in need of rate cuts is difficult to square with these recent metrics, bolstering the hawks' case that rate hikes may be needed to bring inflation back down to target," Anderson said.Price: $231.98, Change: $+0.67, Percent Change: +0.29%
US equities snapped their record-setting rally on Wednesday as renewed hostilities in the Middle East lifted oil prices.The Nasdaq Composite fell 0.9% to 26,854 and the S&P 500 declined 0.7% to 7,553.7, closing lower following a nine-day advance. The Dow Jones Industrial Average lost 1.2% to 50,687.1. All indexes logged fresh record highs on Tuesday.Six of the 11 sectors ended in the red, led by technology, while energy paced the gainers.Several major tech names fell sharply, with IBM (IBM) down 7.2%, the steepest decline on the Dow. Salesforce (CRM) followed IBM on the index, shedding 5.1%. Nvidia (NVDA) declined 3.6%, among the worst performers on the Dow.ServiceNow (NOW) and Microsoft (MSFT) also logged declines.West Texas Intermediate crude oil was up 2.6% at $96.19 a barrel in Wednesday late-afternoon trade, while Brent rose 2.1% to $97.99."Crude oil is trading higher for a third consecutive session, with Brent pushing above $97 as market pessimism once again grows over the prospects of a US-Iran deal that could pave the way for a reopening of the Strait of Hormuz," Saxo Bank said in a report.Iran launched strikes targeting US bases in Kuwait and Bahrain, as well as a vessel near the Strait of Hormuz, CNN reported. On Tuesday, the US Central Command said it conducted self-defense strikes on Qeshm Island in response to attempted attacks by Iran across the Middle East.US President Donald Trump reportedly said in a podcast with the New York Post that Iran has agreed not to have nuclear weapons, but Tehran could still change its mind. Previously, Trump said that negotiations with Iran were continuing, despite Iranian state-affiliated outlet Tasnim reporting that the country had suspended talks with Washington."Oil is up again as only Trump appears to believe that a 'deal' to end the war is in the works," said Derek Holt, head of capital markets economics at Scotiabank.In economic news, the Organization for Economic Co-operation and Development lowered its global economic growth projection for 2026, cautioning that the fallout from the Middle East conflict may linger for some time even after its resolution.In the US, employment in the private sector increased more than expected in May, ADP (ADP) data showed."The breadth of gains was encouraging, with almost all sectors increasing payrolls during the month," Oxford Economics said in a note. "Coupled with weak labor supply growth, the strong gains in payrolls would reduce the upside risk to the unemployment rate."Data from the Bureau of Labor Statistics are expected to show Friday that the US economy added 85,000 nonfarm jobs last month, which would represent a fall from a 115,000 increase reported for April, according to a Bloomberg-compiled survey. The unemployment rate is seen unchanged at 4.3%.The US services sector saw continued expansion in May, with Institute for Supply Management data showing a faster growth rate sequentially, but S&P Global (SPGI) pointing to a deceleration. Both surveys indicated elevated cost pressures and signs of weakness in the labor market.Most Federal Reserve districts saw slight to moderate growth in economic activity since mid-April, while consumer spending remained mixed, the US central bank said in its latest Beige Book released Wednesday."Higher-income households remained resilient and less sensitive to price increase, while middle-income households were described as 'squeezing more life out of every dollar before deciding to spend it,' and low-income consumers showed greater financial strain," according to the latest document, prepared by the Kansas City Fed based on data collected by May 27.US Treasury yields were higher, with the 10-year rate last up 4.6 basis points at 4.49%, and the two-year rate rising 3.8 basis points to 4.09%.Gold was last down 1% at $4,476.40 per troy ounce, while silver fell 2.5% to $73.65 per ounce.
US benchmark equity indexes were lower intraday, while oil prices rose amid renewed hostilities in the Middle East.The Nasdaq Composite was down 1% at 26,816.5 after midday Wednesday, while the Dow Jones Industrial Average fell 0.9% to 50,858.1. The S&P 500 shed 0.6% to 7,562.9. The indexes logged fresh closing highs in the previous session.Among sectors, technology and consumer discretionary saw the biggest decline intraday Wednesday, while energy paced the gainers.Several major tech names were falling sharply, with IBM (IBM) down 6.1%, the steepest decline on the Dow. Salesforce (CRM), Microsoft (MSFT), and Nvidia (NVDA) followed IBM on the index.West Texas Intermediate crude oil was up 2.6% at $96.17 a barrel, while Brent rose 2.1% to $98.04."Crude oil is trading higher for a third consecutive session, with Brent pushing above $97 as market pessimism once again grows over the prospects of a US-Iran deal that could pave the way for a reopening of the Strait of Hormuz," Saxo Bank said in a report.Iran launched strikes targeting US bases in Kuwait and Bahrain, as well as a vessel near the Strait of Hormuz, CNN reported. On Tuesday, the US Central Command said it conducted self-defense strikes on Qeshm Island in response to attempted attacks by Iran across the Middle East.A barrage of ballistic missiles and drones hit Kuwait Wednesday, shutting its international airport, killing one person and injuring dozens, The Wall Street Journal reported.US President Donald Trump reportedly said in a podcast with the New York Post that Iran has agreed not to have nuclear weapons, but Tehran could still change its mind. Previously, Trump said that negotiations with Iran were continuing, despite Iranian state-affiliated outlet Tasnim reporting that the country had suspended talks with Washington."For now, the risk premium continues to be partly offset by President Trump's repeated insistence that an interim agreement remains within reach," Saxo said.In economic news, the Organization for Economic Co-operation and Development lowered its global economic growth projection for 2026, cautioning that the fallout from the Middle East conflict may linger for some time even after its resolution.In the US, employment in the private sector increased more than expected in May, ADP (ADP) data showed."The breadth of gains was encouraging, with almost all sectors increasing payrolls during the month," Oxford Economics said in a note. "Coupled with weak labor supply growth, the strong gains in payrolls would reduce the upside risk to the unemployment rate."Data from the Bureau of Labor Statistics are expected to show Friday that the US economy added 85,000 nonfarm jobs last month, which would represent a fall from a 115,000 increase reported for April, according to a Bloomberg-compiled survey. The unemployment rate is seen unchanged at 4.3%.The US services sector saw continued expansion in May, with Institute for Supply Management data showing a faster growth rate sequentially, but S&P Global (SPGI) pointing to a deceleration. Both surveys indicated elevated cost pressures and signs of weakness in the labor market."The combination of resilient demand and intensifying cost pressures reinforces the risk of ongoing price pass-through, suggesting that the (Federal Reserve) is likely to remain patient on policy easing given limited progress on services disinflation and increasing the likelihood of rate hikes this year," TD Economics said in a note.US Treasury yields were higher intraday, with the 10-year rate up 3.8 basis points at 4.49%, and the two-year rate rising 3.3 basis points to 4.08%.In company news, Medtronic (MDT) reported better-than-expected fiscal fourth-quarter results, while the medical-device maker projected earnings and organic revenue growth for the current year. The company's shares were up 5.1%, among the best performers on the S&P 500.Broadcom (AVGO), CrowdStrike (CRWD), Veeva Systems (VEEV) and Five Below (FIVE) are expected to report after the closing bell Wednesday, along with others.Gold was down 1.2% at $4,465.10 per troy ounce, while silver fell 2.6% to $73.58 per ounce.
Employment in the US private sector increased more than expected in May, ADP (ADP) data showed Wednesday, ahead of the official jobs report for the month due later in the week.Private jobs advanced by 122,000 last month, according to the payrolls processing firm. The consensus was for a 120,000 increase in a Bloomberg-compiled survey. The number of jobs added in April was revised down to 105,000 from 109,000."Hiring was more broad-based in May than we've seen in the last few years," ADP Chief Economist Nela Richardson said. "The labor market continues to show sustained momentum going into the summer hiring season."The services sector added 114,000 jobs last month, led by a 57,000 jump in education and health services, ADP said. The information sector saw a 9,000 drop in roles. Employment in the goods-producing sector grew by 8,000."The breadth of gains was encouraging, with almost all sectors increasing payrolls during the month," Oxford Economics Senior US Economist Matthew Martin said in remarks emailed to. "Coupled with weak labor supply growth, the strong gains in payrolls would reduce the upside risk to the unemployment rate."Data from the Bureau of Labor Statistics are expected to show Friday that the US economy added 85,000 nonfarm jobs in May, which would represent a fall from a 115,000 increase reported for April, according to a Bloomberg-compiled survey. The unemployment rate is seen unchanged at 4.3%.Annual wage growth slowed to 6.5% in May from 6.6% in April for job changers, while compensation gains were steady at 4.4% for job stayers, the ADP report showed.The ADP report is "slightly at odds" with the Job Openings and Labor Turnover Survey released Tuesday, according to Martin. That survey showed job openings hitting their highest level in almost two years in April, although hiring and layoffs fell."While the full impacts of the war in Iran on the labor market haven't fully fed through, recent labor market data will allow the Federal Reserve to be patient in setting policy and remain on hold until December," Martin said.US President Donald Trump reportedly said in a podcast with the New York Post that Iran has agreed not to have nuclear weapons, but Tehran could still change its mind. Previously, Trump said in a social media post that negotiations with Iran were continuing, despite state-affiliated outlet Tasnim reporting that Iran had suspended talks with Washington.Price: $225.84, Change: $-5.34, Percent Change: -2.31%
Automatic Data Processing (ADP) has an average rating of hold and mean price target of $245.43, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://finwires.com/en/contact)
Robert Holmes Swan, Director, on May 07, 2026, executed a purchase for 3,619 shares in Automatic Data Processing (ADP) for $745,695. Following the Form 4 filing with the SEC, Swan has control over a total of 5,187 common shares of the company, with 5,072 shares held directly and 115 controlled indirectly.SEC Filing:https://www.sec.gov/Archives/edgar/data/8670/000122520826005087/xslF345X05/doc4.xml
The US economy added more jobs than projected in April, allaying concerns about a slowdown in the labor market and likely allowing the Federal Reserve to stick to its current policy stance.Total nonfarm payrolls rose by 115,000 last month, the Bureau of Labor Statistics said Friday, well above the 65,000 increase expected in a Bloomberg-compiled survey. The increase in March was revised up by 7,000 to 185,000, while the fall in February was adjusted to 156,000 from 133,000, the BLS said."Payrolls were volatile through (the first quarter), largely due to temporary factors like inclement weather and a healthcare strike in California," Thomas Feltmate, senior economist at TD Economics, said in a report. "With those effects now in the rearview mirror, April provided as the first 'clean' read on hiring for 2026 and the underlying details were reasonably constructive, despite the recent surge in energy prices."Energy prices have surged in the aftermath of the US-Israel war with Iran that has disrupted shipments through the Strait of Hormuz. A fragile ceasefire between Washington and Tehran appears to be holding, with the two sides said to be closing in on a peace deal.Private payrolls growth slowed to 123,000 in April from 190,000 the month prior, the BLS reported. The Bloomberg consensus was for a 75,000 gain. The unemployment rate was unchanged at 4.3% in April, in line with Wall Street's estimates.The pace of job growth appears to have improved since the end of last year, though "it's too soon to say whether the labor market is regaining momentum," Feltmate said."This morning's report alongside other recent data points including initial jobless claims and job posting data by Indeed certainly help to assuage any fears that conditions have continued to cool," he said.The number of initial jobless claims came in below the Street's estimates on Thursday. Previously, ADP (ADP) said employment in the US private sector grew at its fastest pace in more than a year in April.The Fed, which late last month kept its policy rate steady for a third consecutive meeting, is widely expected to stay put again next month, according to the CME FedWatch tool.Following Friday's jobs report, Fed policymakers "can sit tight to better assess the extent to which higher energy prices bleed through to core measures of inflation in the months ahead," Feltmate said.The April policy statement contained a bias toward future rate cuts, though three regional Fed chiefs opposed including such language."There is nothing in this (nonfarm payrolls) report to move the (Fed) off the sidelines on future rate cuts," Scott Anderson, chief US economist at BMO, said. "On balance, the solid jobs report makes the case for a near-term rate cut to stabilize a deteriorating labor market a more remote possibility."Price: $211.44, Change: $-2.65, Percent Change: -1.24%
The S&P 500 and the Nasdaq Composite fell from record closing highs on Thursday as oil prices rose in what turned out to be a choppy trading session for crude.The S&P 500 closed 0.4% lower at 7,337.1, while the Nasdaq slipped 0.1% to 25,806.2. The Dow Jones Industrial Average dropped 0.6% to 49,597. All three indexes snapped a two-day advance that propelled the S&P 500 and the Nasdaq to all-time highs.Barring communication services and technology, all sectors were in the red, led by materials and energy.West Texas Intermediate crude was last up 0.7% at $95.73 a barrel, swinging between gains and losses during Thursday late-afternoon trade. Brent was up 0.1% at $101.36. Both benchmarks fell sharply Wednesday amid prospects of a diplomatic breakthrough between the US and Iran.Iran is still reviewing "messages" from the US via Pakistani mediation, CNN reported, citing Iranian media. Tehran has set out new rules for ships looking to transit ross the crucial Strait of Hormuz, the news outlet reported."Markets continue to be cautiously optimistic toward the prospect of a US-Iran deal to end the war despite the appearances of the US administration pumping the deal vastly more than the other side," Scotiabank said in a note.US Treasury yields were higher, with the 10-year rate up 4.5 basis points at 4.40% and the two-year rate rising 5.4 basis points to 3.92%.In company news, Tapestry (TPR) raised its fiscal 2026 outlook after delivering a third-quarter beat, but provided a subdued fourth-quarter sales guidance for its Kate Spade brand. The luxury fashion company's shares slumped 12%, the second-worst performer on the S&P 500.Planet Fitness (PLNT) shares slid 31% after the fitness center operator tempered its full-year expectations amid fewer-than-projected member additions in the first quarter.Shake Shack (SHAK) shares plummeted 28% after the fast food chain operator's first-quarter results fell short of Wall Street's estimates amid weather-related headwinds.Datadog (DDOG) shares surged 31%, the top gainer on the S&P 500. The software maker raised its full-year outlook after posting first-quarter results that topped the Street expectations.In economic news, US job cuts increased in April to the third-highest total for the month since 2009 as technology companies continued to announce layoffs amid a shift toward artificial intelligence, Challenger Gray & Christmas said Thursday.The report comes ahead of the official April nonfarm payrolls data to be released on Friday.Official data are expected to show that the US economy added 65,000 nonfarm jobs in April, compared with a 178,000 increase reported for the previous month, according to a Bloomberg-compiled consensus. On Wednesday, ADP (ADP) said that employment in the US private sector grew at its fastest pace in more than a year.Gold was up 0.3% at $4,709.90 per troy ounce in Thursday late-afternoon trade, while silver jumped 2.7% to $79.40 per ounce.
The Nasdaq Composite and the S&P 500 climbed to new peaks and oil prices tumbled on Wednesday following reports about the US and Iran nearing a potential peace agreement.The Nasdaq Composite rose 2% to 25,838.9, while the S&P 500 advanced 1.5% to 7,365.1, recording their highest close ever and biggest one-day percentage gains since April 8. The Dow Jones Industrial Average gained 1.2% to settle at 49,910.6.Barring energy and utilities, all sectors ended in the green, led by industrials and technology, which gained 2.6% each.West Texas Intermediate crude was last down 6.9% at $95.20 per barrel, while Brent slumped 7.7% to $101.40.American and Iranian officials are close to a one-page memorandum of understanding to end the war and establish a framework for nuclear negotiations, Axios reported Wednesday, citing sources."A deal announcement would move futures further immediately, in fact even the potential of a deal is already triggering a decline in oil prices," Rystad Energy Chief Oil Analyst Paola Rodriguez-Masiu said in remarks emailed to.The physical market's recovery won't be as quick as the futures market predicts, Rodriguez-Masiu said, pointing to a six-to-eight-week lag between the strait reopening and oil flows normalizing.US President Donald Trump said the US has had "very good talks" with Iran over the past 24 hours, but there is no deadline on when he expects Tehran to respond to a US proposal to end the war, CNN reported.Trump warned that Iran's failure to agree to a deal would trigger a powerful military operation, according to his social media post from earlier in the day.Iran said it was reviewing the latest US proposal, according to news reports.US Treasury yields were lower, with the 10-year rate down 7.8 basis points at 4.35% and the two-year rate falling 7.4 basis points to 3.88%.In company news, Advanced Micro Devices (AMD) shares surged nearly 19%, among the best performers on the S&P 500.Late Tuesday, the chipmaker reported stronger-than-expected first-quarter results as demand for artificial intelligence infrastructure pushed data center revenue higher year over year.Advanced Micro Devices is expected to capture about half of the total addressable market for server central processing units, which the company expects will exceed $120 billion by 2030, BofA Securities said.Walt Disney's (DIS) fiscal second-quarter results came in ahead of market estimates Wednesday amid revenue gains across all business operations, while the media and entertainment giant reiterated its expectations for growth to accelerate in the second half. Disney's shares climbed 7.5%, the top performer on the Dow.Nvidia (NVDA) followed Disney on the Dow, up 5.8%. Specialty glass maker Corning (GLW) will boost its optical connectivity manufacturing capacity under a multiyear partnership with the chipmaking giant to support AI factory buildouts. Corning shares jumped 12%.Arista Networks (ANET) shares tumbled nearly 14%, among the worst S&P 500 performers. Late Tuesday, the cloud networking company issued a second-quarter revenue outlook slightly below market estimates.In economic news, employment in the US private sector grew at its fastest pace in more than a year in April, ADP (ADP) data showed."The uptick in private payroll gains from the ADP employment report not only suggests a stable labor market, but one that was potentially warming despite the outbreak of the war in Iran," Oxford Economics said in a note. "If this signal is echoed in the official measure on Friday, the unemployment rate is likely to fall given the low break-even rate, which we estimate is near zero."Data from the Bureau of Labor Statistics are expected to show Friday that the US economy added 65,000 nonfarm jobs last month, which would represent a fall from a 178,000 increase reported for March, according to a Bloomberg-compiled survey. The unemployment rate is seen unchanged at 4.3%.St. Louis Fed President Alberto Musalem said Wednesday that risks have shifted toward higher inflation."We have risks both on the employment side and on the inflation side," Musalem said at a Mississippi Bankers Association event, according to a Reuters report. "In my understanding risks have been shifting towards ... the inflation side."Gold rose 3.1% to $4,708.50 per troy ounce, while silver climbed 6.1% to $78.05 per ounce.
US benchmark equity indexes were higher intraday, while oil prices tumbled as investors reacted to reports saying that Washington and Tehran are nearing a potential agreement to end the war.The Nasdaq Composite was up 1.6% at 25,726 after midday Wednesday, while the S&P 500 advanced 1.1% to 7,339.3. Both indexes were on track for back-to-back record-high closings. The Dow Jones Industrial Average rose 1% to 49,792.1.Among sectors, industrials was outperforming with a 2.2% gain, while energy saw the steepest drop of 4.1%.West Texas Intermediate crude was down 6.6% at $95.57 per barrel, while Brent slumped 7% to $102.20.The US is nearing a deal with Iran on a one-page memorandum of understanding to end their conflict in the Middle East and establish a framework for more detailed nuclear negotiations, Axios reported Wednesday, citing two US officials and two other sources familiar with the matter.The two countries are moving closer to an agreement on a short memorandum to end the war, CNN also reported, citing a regional source familiar with the negotiations."Traders in the US woke up to see some real excitement in the markets today caused by the (Axios) news," Macquarie said in a note. "The good news, for now, is that the same sources that leaked the existence of a deal to Axios said this was the closest the parties had been to an agreement since the war began."US President Donald Trump issued a fresh warning to Iran, saying the "bombing starts" again if a deal is not reached."Assuming Iran agrees to give what has been agreed to, which is, perhaps, a big assumption, the already legendary Epic Fury will be at an end, and the highly effective blockade will allow the Hormuz Strait to be open to all, including Iran," Trump said in a social media post.Iran said it is still reviewing the latest US proposal, according to news reports.US Treasury yields were lower intraday, with the 10-year rate down 7.4 basis points at 4.36% and the two-year rate falling 7.2 basis points to 3.88%.In company news, Advanced Micro Devices (AMD) shares surged nearly 17%, among the best performers on the S&P 500. Late Tuesday, the chipmaker reported stronger-than-expected first-quarter results as demand for artificial intelligence infrastructure pushed data center revenue higher year over year.Walt Disney's (DIS) fiscal second-quarter results came in ahead of market estimates Wednesday amid revenue gains across all business operations, while the media and entertainment giant reiterated its expectations for growth to accelerate in the second half. Disney's shares climbed 6.5%, the top performer on the Dow.Nvidia (NVDA) followed Disney on the Dow, up 4.5%. Specialty glass maker Corning (GLW) will boost its optical connectivity manufacturing capacity under a multiyear partnership with chipmaking giant to support AI factory buildouts. Corning shares jumped 14%.Arista Networks (ANET) shares tumbled 16%, among the worst S&P 500 performers. Late Tuesday, the cloud networking company issued a second-quarter revenue outlook slightly below market estimates.Arm (ARM), Applovin (APP), DoorDash (DASH) and Warner Bros. Discovery (WBD) are expected to report after the closing bell Wednesday, along with others.In economic news, employment in the US private sector grew at its fastest pace in more than a year in April, ADP (ADP) data showed."The uptick in private payroll gains from the ADP employment report not only suggests a stable labor market, but one that was potentially warming despite the outbreak of the war in Iran," Oxford Economics said in a note. "If this signal is echoed in the official measure on Friday, the unemployment rate is likely to fall given the low break-even rate, which we estimate is near zero."Data from the Bureau of Labor Statistics are expected to show Friday that the US economy added 65,000 nonfarm jobs last month, which would represent a fall from a 178,000 increase reported for March, according to a Bloomberg-compiled survey. The unemployment rate is seen unchanged at 4.3%.Gold rose 2.8% to $4,695.90 per troy ounce, while silver climbed 5.3% to $77.48 per ounce.
Employment in the US private sector grew at its fastest pace in more than a year in April, ADP (ADP) data showed Wednesday, ahead of the official jobs report due later in the week.Private jobs advanced by 109,000 last month, representing the fastest growth pace since January 2025, payrolls processing firm ADP said. The consensus was for a 120,000 increase in a Bloomberg-compiled survey.The number of jobs added in March was revised down to 61,000 from 62,000, according to ADP data."The uptick in private payroll gains from the ADP employment report not only suggests a stable labor market, but one that was potentially warming despite the outbreak of the war in Iran," Oxford Economics Senior US Economist Matthew Martin said in a report emailed to. "If this signal is echoed in the official measure on Friday, the unemployment rate is likely to fall given the low break-even rate, which we estimate is near zero."Data from the Bureau of Labor Statistics are expected to show Friday that the US economy added 65,000 nonfarm jobs in April, which would represent a fall from a 178,000 increase reported for March, according to a Bloomberg-compiled survey. The unemployment rate is seen unchanged at 4.3%.The services sector added 94,000 jobs last month, led by a 61,000 jump in education and health services, ADP said. Trade, transportation and utilities rebounded to a 25,000 increase, while professional and business services saw an 8,000 drop. Employment in the goods-producing sector grew by 15,000 jobs."Small and large employers are hiring, but we're seeing softness in the middle," ADP Chief Economist Nela Richardson said. "Large companies have resources to deploy, and small ones are the most nimble, both important advantages in a complex labor environment."Large and small companies hired a total of more than 100,000 people in April, while medium-sized companies added 2,000 jobs, according to ADP.Annual wage growth slowed slightly to 4.4% for job-stayers on a sequential basis, while compensation gains were steady at 6.6% for job changers, the report showed.On Tuesday, the BLS reported that job openings slipped in March, while hiring rose.Price: $207.19, Change: $-3.41, Percent Change: -1.62%
Automatic Data Processing (ADP) has an average rating of Hold and mean price target of $250.36, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://finwires.com/en/contact)Price: $211.84, Change: $-3.22, Percent Change: -1.50%
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