Summary:
The ADP report showed that the U.S. private sector added 192,000 jobs, hiring increased in various industries, and the labor market remained strong.
May ADP
5/6/2024 (Wed)
Previous (Feb): 192k Forecast: 175k
The numbers: US businesses created 192k new jobs in April, ADP said, and more industries hired people in a sign of ongoing labour-market strength.
"Hiring was broad-based in April," according to Nela Richardson, chief economist. The service-providing sector saw the biggest increases and only the IT sector showed weakness.
However, the reading diverged from the government report showing a job gain of 175k last month. The agent expects the new hiring to soften in May, adding to the evidence of a slowdown in the economy.
Disclaimer: This material is for general information purposes only and is not intended as (and should not be considered to be) financial, investment or other advice on which reliance should be placed. No opinion given in the material constitutes a recommendation by EBC or the author that any particular investment, security, transaction or investment strategy is suitable for any specific person.
SAP will report Q2 earnings on 22 July. Traders await signs of cloud strength to see if the stock price can continue its steep climb.
2025-07-17
Palantir, GE Vernova, SMCI, and Uber are leading technology sector growth stocks in 2025, posting robust gains driven by AI and digital transformation.
2025-07-17
Invesco's survey shows global sovereign funds are boosting their allocation to Chinese assets, particularly in technology.
2025-07-17
