U.S. equity market indexes finished higher for the Sept. 2 trading day, helping to recover some of the market’s losses. For the day, the Dow Jones Industrial Average was up 1.80% led by Apple (AAPL, Financial) up 4.29% and Microsoft (MSFT, Financial) up 3.68%. Indexes have begun the month broadly in the negative with the Dow Jones Industrial Average down 0.26%.
The ADP National Employment Report released on Wednesday gave some insight into the labor market’s health overall. While slightly weaker than expected, the ADP report showed an increase of 190,000 jobs in the private sector during August. The report often gives a good indication of the Bureau of Labor Statistics’ Employment Situation report which includes both private and public sector job increases.
Economists’ projections for Friday’s BLS Employment Situation report call for an increase of 223,000 jobs and an unemployment rate decrease of 0.1%. A positive report in line with economists’ average expectation could help decrease some of the market’s volatility. Most economists feel, however, that a report showing an increase of less than 200,000 jobs would have an adverse effect. Additionally, at an increase of less than 200,000 nonfarm payrolls, most economists feel a September rate hike would be improbable.
In a recent interview with TheStreet, Robert Brusca of FAO Economics discussed his insight on the ADP report and his expectations for Friday’s Employment Situation report from the BLS.
