UK and eurozone manufacturing sectors show sluggish progress, while Apple shares jump 4% after stellar results
Here’s IG index on the expected opening for Wall Street:
US Opening Calls:#DOW 25392 -0.10%#SPX 2816 -0.01%#NASDAQ 7250 +0.23%#IGOpeningCall
US private sector employers took on more workers than expected in July, according to a new report, partly due to this year’s hefty tax cuts.
Ahead of the non-farm payroll numbers on Friday, ADP’s employment report showed a 219,000 increase in private sector jobs last month, compared to expectations of a 185,000 rise. Ahu Yildirmaz, co-head of the ADP Research Institute, said:
The labour market is on a roll with no signs of a slowdown in sight. Nearly every industry posted strong gains and small business hiring picked up.
The job market is booming, impacted by the deficit-financed tax cuts and increases in government spending. Tariffs have yet to materially impact jobs, but the multinational companies shed jobs last month, signalling the threat.