ADP Payrolls Rise, Mortgage Rates Stall and "Impressive" MCD Earnings

Economic Data - The ADP private payroll report showed an increase of 42,000 jobs, surpassing the expected 25,000 and a previous decline of 32,000 jobs [2][5] - Job creation was primarily driven by larger companies, with those employing 500 or more workers contributing significantly to the hiring [3] - Sector breakdown revealed gains in trade and transportation utilities (+47,000), education and health services (+25,000), and financial activities (+11,000), while leisure and hospitality (-5,000), professional and business services (-15,000), and information services (-17,000) saw declines [3][4] Mortgage Applications - Mortgage applications decreased by 1.9% this week, following a significant increase of 7.1% the previous week [7][8] - Purchase applications fell by 6%, while refinance applications dropped by 2.8%, although the overall trend in the last two weeks has been positive [8] Federal Reserve Outlook - The probability of a 25 basis point rate cut by the Federal Reserve has risen to 72%, up from a previous 60% [9] Company Earnings - McDonald's stock rose by approximately $8 to $9 in pre-market trading despite an earnings per share miss, attributed to better sales and revenue, along with strong guidance [12] - AMD's stock experienced a decline of about $5 to $6 in pre-market trading, but it has seen a substantial increase of 153% over the last six months, indicating strong overall performance despite short-term fluctuations [13][14]