Less Dovish FOMC Minutes Turn Stocks Negative
US economic data was better this morning leading to an early turnaround in US equities. The private payrolls report from the ADP Institute showed a gain of 215 000 jobs higher than the highest economist estimate of a gain of 210 000 jobs. The average estimate was for a gain of 140 000. Planned firings as reported by Challenger Job Cuts showed an annual decrease of 22.1% in December from last year to 32 556. Leading the way in firings was financials while new hirings also declined to 16 266 in December from 28 526 in November. In global ...
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