ADP Numbers Lowest Since August; Initial Claims Also Down

Wednesday, January 8, 2025Pre-market futures have fluctuated a bit, with new labor market data out ahead of the opening bell. Futures had been slightly negative, then went slightly positive on the economic news, and now we’re back in the red: the Dow is -15 points, the S&P -5 and the Nasdaq -25 points. Ten-year bond yields have now climbed above +4.7%, and the spread between it and 2-year yields is now the highest we’ve seen in, literally, years.ADP Private-Sector Payrolls Lower than ExpectedThe expected jo ...