ADP employment report was one of the top tier economic releases scheduled for today. Data released at 1:15 pm GMT showed a 123k jobs decline in the US employment in December. Market expected an addition of 88k jobs during the final month of 2020. Reading showed not only that recovery on the US jobs market has continued to slow but in fact that it has stalled altogether. Stock markets moved lower in a knee-jerk move but reaction was not major as investors continued to focus on the outcome of US Senate run-off races. This was the final hint ahead of Friday's NFP report release (1:30 pm GMT). A point to note is that ADP had some significant misses in 2020 so the market may be waiting for a confirmation from official government data on Friday.
US500 dipped following release of dismal ADP employment data. However, drop was minor and it looks like markets are waiting for confirmation from Friday's NFP report. Source: xStation5
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