July US private payroll data from ADP
- Prior report was 692K (revised to 680K)
- The ADP rose 330K vs 695K
- Small businesses 90 1K
- Midsized 132K
- Larger 106K
- Goods sector 12K
- Service sector 318K
- leisure and hospitality plus 139K
- education and health services +64K
- professional/business services +54K
- trade/transportation/utilities +36K
- financial activities +9K
The BLS report will be released on Friday with expectations of 870K. Last month the BLS report showed Non Farm Payroll rose 850K. This is not a good precursor to that report on Friday. If it falls through to the BLS report, that may lessen the taper talk at the Fed.
Fed’s Clarida will speak at 10 AM Et. The market will in interested in what he has to say with regard to the economic rebound, inflation and of course the tapering topic.