Stock futures pare gains as May ADP jobs number misses estimates

U.S. stock index futures pared gains this morning after data showed that private employers added 27,000 jobs in May, falling far short of economists’ expectations.

Economists surveyed by Reuters had forecast the ADP National Employment Report would show a gain of 180,000 jobs.

At 8:22 a.m. ET, Dow e-minis were up 102 points, or 0.4%. S&P 500 e-minis were up 10 points, or 0.36% and Nasdaq 100 e-minis were up 36.5 points, or 0.51%.

Reuters

This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.

Dean Popplewell

Dean Popplewell

Vice-President of Market Analysis at MarketPulse
Dean Popplewell has nearly two decades of experience trading currencies and fixed income instruments. He has a deep understanding of market fundamentals and the impact of global events on capital markets. He is respected among professional traders for his skilled analysis and career history as global head of trading for firms such as Scotia Capital and BMO Nesbitt Burns. Since joining OANDA in 2006, Dean has played an instrumental role in driving awareness of the forex market as an emerging asset class for retail investors, as well as providing expert counsel to a number of internal teams on how to best serve clients and industry stakeholders.
Dean Popplewell