ADP Nonfarm Employment Change: Actual: 41K; forecast 49K; previous -32K
"Hiring has been choppy of late as employers weather cautious consumers and an uncertain macroeconomic environment. And while November's slowdown was broad-based, it was led by a pullback among small businesses" - ADP economist reports.
Lower-than-expected ADP survey data focused on the US labor market is worse than expected. Lower employment growth reduces the chances of the Fed maintaining its conservative monetary policy, which strengthens sentiment around stocks.
Daily Summary: Yields at their highest since 2002, yet Wall Street is still rising🚨
BREAKING: U.S. ISM PMI for services comes in below expectations🚨
Market Wrap: France’s Budget, Spain’s Elections. Politics Returns to the Markets
💶Chart of the Day: EURUSD at Lowest Since May 2025 Amid French Fiscal Crisis