Corona Virus
Stay Safe, FollowGuidance
Fetching Location Data…
David Becker
E-mini S&P 500 Index

US stocks rallied on Thursday as news that the US and China were planning to restart trade meetings in October buoyed sentiment. In addition, payroll numbers reported by ADP showed that private-sector jobs were stronger than expected. Retail sales surged, as the consumer appears to remain resilient. Most sectors were higher, led by cyclical and technology. Utilities bucked the trend.  The better than expected jobs data lifted US yields which helped buoy the dollar and weighed on precious metals prices. Gold mining shares were also under pressure. Crude oil prices were nearly unchanged after attempting to rally. Energy shares were buoyed rising near 2.3%.

ADP Private Payrolls Rose More than Expected

According to ADP and macroeconomic advisors, private payrolls surged by 195,000 in August, above expectations. Economists surveyed had been looking for a gain of just 140,000 following July’s 142,000, which was reduced downward by 14,000 from the original count. August’s growth was the best showing since the 255,000 added in April. Most of the gains were in the service sector with nearly 100,000 of the new jobs coming in education and health services and leisure and hospitality industries.

Know where WTI Crude Oil is headed? Take advantage now with 

75% of retail CFD investors lose money

Services accounted for 184,000 of the totals, with goods-producing industries adding 11,000. Manufacturing grew by 8,000 and construction contributed 6,000, though natural resources and mining saw a reduction of 2,000. Information services saw a loss of 6,000 jobs.


Jobless Claims Expected Higher

Initial jobless claims increased 1,000 to a 217,000 for the week ended August 31, according to the Labor Department. Data for the prior week was revised to show 1,000 more applications received than previously reported. Expectations were for claims to be unchanged at 215,000 in the latest week. The four-week moving average of initial claims, rose 1,500 to 216,250 last week.

US Productivity Rises

US worker productivity slowed in the Q2, as productivity in the manufacturing sector declined by the most in nearly two years. The Labor Department said nonfarm productivity, increased by 2.3% annualized rate in the last quarter. Productivity also rose at an unrevised 3.5% rate in the first quarter. Economists had expected second-quarter productivity would be revised down to a 2.2% rate. Manufacturing productivity fell at a 2.2% rate in the second quarter, instead of the 1.6% pace estimated last month. That was the weakest since the third quarter of 2017 and followed a 1.2% pace of increase in the first three months of the year.

Don't miss a thing!
Discover what's moving the markets. Sign up for a daily update delivered to your inbox

Trade With A Regulated Broker

  • Your capital is at risk
The content provided on the website includes general news and publications, our personal analysis and opinions, and contents provided by third parties, which are intended for educational and research purposes only. It does not constitute, and should not be read as, any recommendation or advice to take any action whatsoever, including to make any investment or buy any product. When making any financial decision, you should perform your own due diligence checks, apply your own discretion and consult your competent advisors. The content of the website is not personally directed to you, and we does not take into account your financial situation or needs.The information contained in this website is not necessarily provided in real-time nor is it necessarily accurate. Prices provided herein may be provided by market makers and not by exchanges.Any trading or other financial decision you make shall be at your full responsibility, and you must not rely on any information provided through the website. FX Empire does not provide any warranty regarding any of the information contained in the website, and shall bear no responsibility for any trading losses you might incur as a result of using any information contained in the website.The website may include advertisements and other promotional contents, and FX Empire may receive compensation from third parties in connection with the content. FX Empire does not endorse any third party or recommends using any third party's services, and does not assume responsibility for your use of any such third party's website or services.FX Empire and its employees, officers, subsidiaries and associates, are not liable nor shall they be held liable for any loss or damage resulting from your use of the website or reliance on the information provided on this website.
This website includes information about cryptocurrencies, contracts for difference (CFDs) and other financial instruments, and about brokers, exchanges and other entities trading in such instruments. Both cryptocurrencies and CFDs are complex instruments and come with a high risk of losing money. You should carefully consider whether you understand how these instruments work and whether you can afford to take the high risk of losing your money.FX Empire encourages you to perform your own research before making any investment decision, and to avoid investing in any financial instrument which you do not fully understand how it works and what are the risks involved.