Automatic Data Processing Stock News

4 March 2022

BBSI vs. ADP: Which Stock Is the Better Value Option?

February Nonfarm Payrolls Preview, But Does Anyone Care While today''s job report will be of far lower importance with geopolitics, war, stagflation and commodity hyperinflation taking precedence, investors will nonetheless watch the latest job data due at 830am for clues about the next move from the Federal Reserve. Consensus expects the February jobs report at 8:30am ET to show nonfarm payrolls increase of 423k vs 467k in January, with the Bloomberg crowd- sourced whisper number slightly lower at 401k. Notably, the pace of hiring is expected to confirm Fed’s assessment that the labor market is strong enough to withstand rate hikes. The unemployment rate is expected to decline to 3.9%. As Newsquawk notes, Indicators of labor market activity have been constructive in February. ADP’s gauge of payrolls surprised to the upside (although analysts have been dismissing the predictive significance of the data), initial jobless claims and continuing claims data both eased in the survey week vs January levels.

ABM Industries' (ABM) first-quarter fiscal 2022 revenues are likely to have improved year over year while earnings have declined.

Watch Video According to the payroll processing firm ADP, the country added more than 475,000 jobs in February. Large corporations did much of the hirings, with the leisure and hospitality sector seeing the biggest gains. The Labor Department will release its latest job numbers on Friday.

Rabobank: You Can''t Trade Geopolitics By Michael Every of Rabobank *You* can''t trade geopolitics We aren''t in WW3 yet - despite worries Russia, not bad weather, just took down a Romanian military helicopter and jet - but this crisis is answering a question I have long pondered: how would our 24/7 clickbait, read-no-history, central-bank-liquidity-addled, algo-driven markets have traded WW2? The answer: stupidly. Every other day for six years they would have wondered if it was over yet. While the Battle of Stalingrad raged, they would ponder waterfront condos in the city centre. On D-Day they would have turned the TVs off and gone back to their desks, exactly like the traders I worked with at another bank did in 2003''s Iraq War after the statue of Saddam Hussein fell. "No more to see here." "What about insurgency, terrorism, Iran, and regional chaos?" “Shut up and buy assets." Of course, in WW2 markets were largely closed and stockbrokers had to fight too, as in Ukraine now, which changes one’s view of how to trade life.

Wall Street rebounded on Wednesday regaining a large part of losses it incurred in the previous day.

East West Bancorp, Automatic Data Processing, CDW, and W.W Grainger have been included in this Screen of the Week article.

This morning, the crypto market registered gains, with most top 10 cryptocurrencies registering positive numbers over the past 24 hours. In a move that will likely harm Apple’s bottom line, the company has joined other major tech firms in Boycotting Russia. As a result, customers living there can no longer buy any of their products or make purchases via app store– including iPhones. The markets were in turmoil yesterday as fighting between Russia and Ukraine continued. Related Reading | Bitcoin Closes 1st Green Month After 3 Reds, What History Says May Happen The markets will be watching closely today as Chairperson of the Federal Reserve Jerome Powell gives his bi-annual monetary policy update to Congress. The future trajectory for interest rates has been uncertain following recent events. Still, investor expectations may change soon enough, thanks in large part due to an upcoming report from ADP Non-Farm Employment Change. Top Cryptocurrencies Performance Bitcoin is up 1%, trading at $44,000.

A feeling of "normalization" has re-entered the markets, welcome as a spring breeze.

Crypto & Crude Extend Yesterday''s Gains As Bonds & Stocks See Massive Roundtrip The narrative for today''s gains were 1) apparently positive headlines from Ukraine ( though contradictory messages from both sides on talks were made ), 2) ADP showed strong job gains ( but embarrassed itself as practically useless with a massive revision to last month''s job losses ), and 3) Powell affirmed a single rate-hike in March but opened the door for a 50bps hike in the future ( reducing the odds of a 50bps hike , but the market shifted hawkishly on the actual rate trajectory ). Source: Bloomberg And that prompted a buying-panic in stocks, reverting everything to Monday''s overnight highs. Small Caps led the charge with the rest of the majors grouped together.. Nasdaq just triggered its first death cross (50DMA breaks below the 200DMA) since the COVID-lockdown crash in April 2020… (is this a buying opportunity like the last two times?) Source: Bloomberg As a reminder - amid the chaotic swings, equity index liquidity remains near record lows...