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US ADP payroll report in the spotlight soon today for the Dow Jones futures

Following on from an earlier update, noting the continued divergence in pricing between the Dow Jones futures and the Nasdaq 100 futures, the Dow Jones is now priced to open even higher. Right now that is above 38,530, but it has been close to 38,500 earlier. Ahead of that opening, there is an important US economic release due out at 1.15pm GMT. That is the latest ADP, privately sourced monthly payroll report. This is expected to show a gain of around 145k in January, compared to the 164k rise in December. Right now the latest data from the US does confirm that the economy is in a pretty sweet spot. Jobs and demand are still plentiful and inflation has fallen. So, the prospect of soft landing is very much still in place, despite the doubts amongst many leading analysts. That is why the US stock markets in general and the Dow Jones in particular are going gangbusters at the moment. So, at 1.15pm GMT we might see if this ADP data adds, or detracts from that outlook 

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