ADP Reports Highest New Job Postings Since Last July

Economic Indicators - The private-sector employment report from ADP showed an increase of +63K jobs in February, the highest since July of the previous year [3] - Goods-producing jobs rose by +16K, with construction jobs contributing +19K, while services added +47K [4] - Small companies (under 50 employees) accounted for the majority of new jobs at +60K, while large firms added +10K and medium-sized businesses lost -7K [5] Labor Market Insights - The labor market is described as "very inert," benefiting small firms that typically offer lower-paying jobs [7] - Job Stayers saw a +4.5% income increase, while Job Changers experienced a +6.3% increase, indicating a narrow gap in wage growth [7] - The Professional/Business Services sector lost -30K positions, suggesting a trend towards lower-paying jobs in the labor market [6] Company Earnings Updates - Abercrombie & Fitch (ANF) reported earnings of $3.68 per share, beating estimates by +3.37%, but shares fell -4% due to concerns over slowing revenue growth [8] - Bath & Body Works (BBWI) shares rose +4% following a strong Q4 performance, with earnings of $2.05 per share representing a +15.8% earnings beat [9] - Broadcom (AVGO) is expected to report +27% year-over-year earnings growth and +29% revenue growth, while American Eagle Outfitters (AEO) anticipates +31.5% earnings growth and +8% revenue growth [10]