ADP Financial News

By Rania Gule

Investing.com — US stock futures were trading higher during Sunday's evening deals, after major benchmark averages finished the week at multi-month lows as investors brace for a busy week of earnings reports and economic data.

According to a report released by ADP, a payroll and HR services provider, 29% of respondents in a series of surveys quit their jobs within the first month of getting a promotion. Does it imply that getting a promotion makes employees quit? If yes, why?

By Davide Barbuscia and David Randall

A monthly US jobs report due Friday may be the last to show solid hiring before a sharp slowdown, according to Bloomberg Economics.

Stocks finished yesterday flat after being down earlier for most of the session. A sell-off in the dollar ahead of today's Job report was the main catalyst for the bounce. The S&P 500, for the most part, has consolidated the last two trading sessions and failed for a second day at 4,270.

Just when you thought it was safe to assume that the soft-landing fix was in, the bond market has thrown a wrench into the machine. So it goes with the constantly shape-shifting risk profile for the US business cycle. Most of the time the changes are relatively trivial. Is this time different?

Investing.com — The U.S. dollar traded higher Friday, on course for another positive week, ahead of the release of the monthly U.S. nonfarm payrolls which could influence Federal Reserve thinking.

Investing.com — European stock markets are expected to open in a mixed fashion Friday, with investors focusing squarely on the monthly U.S. jobs report that could set the tone for the Federal Reserve’s next interest rate move.

Investing.com — Stocks were flat to down heading into the closing bell on Thursday as most investors were preoccupied with what Friday's jobs report for September might say.

For the first time in many weeks, gold is starting to look relatively attractive again. If you loved gold at $2K+, it is now on sale near $1.8K. But will it find buyers is the key question? The sharp $130 (6.7%) drop in the space of a couple of weeks (from its 21st September high) means gold prices are technically oversold and potentially due to a short-covering rally from these long-term support levels.

By Brigid Riley

Gold rate today: On account of profit booking trigger in US dollar leading to rout in US government bonds, gold price today went up during early morning deals. Fold future contract on Multi Commodity Exchange (MCX) for December 2023 expiry opened higher at ₹56.825 per 10 gm and went on to hit intraday high of ₹58,880 levels within few minutes of commodity market's opening bell today. In international market, gold price is quoting aound $1,828.50 per ounce levels.

much needed relief as the dollar and U.S. Treasury yields both steadied slightly lower on Thursday after mixed U.S.

Investing.com — US stock futures were trading slightly lower during Wednesday's evening deals, after major benchmark averages rebounded and Treasury bond yields slipped following weaker than expected ADP employment data.

Investing.com — The Dow closed higher to snap a three-day losing streak on Wednesday as data showing the pace of private job growth slowed to a 32-month low eased fears somewhat that the Federal Reserve may not need to hike again before year-end, halting the recent rise in Treasury yields. 

Investing.com — The S&P 500 rose Wednesday as the rise in Treasury yields was halted by data showing the pace of private job growth slowed to a 32-month low, easing fears somewhat that the Federal Reserve may need to hike again before year-end.

30-year yields rose above 5% overnight, as investors worried about the Federal Reserve holding rates higher for longer as it battles to bring down inflation. Yields have surged as investors reprice the likelihood that the U.S. central bank will keep rates elevated and possibly raise them again if the economy continues to show resilience and price pressures remain above the Fed's 2% target. Concerns over rising Treasury supply and oil prices are also weighing on the market. As yields jump, investors are also focused on the likelihood that high rates will ultimately cause a recession, with many analysts forecasting weakness in the fourth quarter and into 2024. “I think that the real reason the long end has been in a free fall is mainly because of the yield curve steepening trade, where the curve has a tendency to reprice an economic slowdown,” said Tom di Galoma, managing director and co-head of global rates trading at BTIG in New York. The closely watched yield curve between two-year and 10-year notes reached minus 30 basis points on Wednesday, after inverting as far as minus 111 basis points in March and July.

On the other hand, the dollar index, which tracks the greenback against six peers, was down 0.2% at 106.73, giving up some of its recent gains, after weaker-than-expected U.S. private payrolls based on the ADP National Employment Report.

FreedomWorks senior economist Steve Moore provides insight on the state of the economy on 'Making Money.'

By Ankika Biswas and Shashwat Chauhan