S+P 500 will be watching the ADP report later today

At 12.15pm GMT the US will release the September ADP privately sourced payroll report. The data was rather disappointing in August, with a rise of just 99k. The markets are expecting an improvement last month, by around 120k. This is really the only US economic release of any note out today and hence it could grab the spotlight away from the Middle East, if only for a short while. The S+P 500 as the broadest measure of US stock market performance is very much in the mix when it comes to any potential reaction to this data. The index fell to set a low at 5,681,28 yesterday, dragged lower in part by the slide in the Nasdaq 100. The index had earlier reopened at 5,757.73 and that was the very top of the shop yesterday. Overnight and so far this morning the price action across the S+P futures has been roughly covered by 5,690 to 5,710. The prospect of that range being broken later is clearly live and a move either side of the noted extremes seen yesterday would seem to deliver the possibility of an extension. The index is just now priced to reopen at around 5,702