US April ADP report misses estimates rising by only 62k- S+P 500 futures slip

The April US ADP private payroll report has just been released. As noted here earlier, the markets were looking for a lower number this month around 115k (+155k in March) . The actual number is just 62k . Next up is the even more important flash estimate for Q1 GDP and that is forecast to be pretty bad, with growth of just 0.3% in the first quarter of the year, compared to a rise of 2.4% in the final 3 months of 2024. At the same time core PCE prices are forecast to rise by 3.3% over the same period compared to a rise of 2.6% in the previous quarter. Both or either of these could have an impact on the dollar and the US stock market futures. So, as soon as all that lot is released another update will follow here. Meantime, the S+P 500 futures have fallen on that ADP data. The index closed last night at 5,560.83 (its highest daily close since the April low at 4,835), with a gain of 32.08 points on the session. The S+P 500 future was falling into this report and it has now fallen back further. The index is right now priced to reopen around 5,530