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U.S. stock futures get a lift from ADP employment data

Thursday, January 3, 2008

NEW YORK (Thomson Financial) - U.S. stock futures improved Thursday after the release of the ADP National Employment Report, which indicated that the government's jobs report on Friday will be close to expectations.

S&P 500 futures were up 4.10 points at 1,462.50. Just prior to the release of the ADP data, the futures were trading down slightly at around 1,456.

Nasdaq 100 futures were up 2.50 at 2,072.50, vs. pre-ADP data levels of about 2,062.50.

The ADP report showed employment increased by a total of 40,000 in December. Adding in the typical growth in government jobs, which ADP doesn't track, the report suggests nonfarm payrolls grew by about 59,000 in December, compared with the median estimate of economists surveyed by IFR Markets of 70,000, and IFR's estimate of 50,000.

Tomi Kilgore

Posted by MOHAMED SAID at 6:24 AM  

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