Automatic Data Processing Stock News

The latest 13F reporting period has come and gone, and Insider Monkey is again at the forefront when it comes to making use of this gold mine of data.

Nonfarm Payrolls Outperform in January.

A total of 467K new jobs were created last month, more than triple the 150K expected, while the Unemployment Rate ticked up to 4.0% from 3.9% previously.

January Payrolls Preview: It Will Be A Bloodbath One month ago, when discussing the lousy December payrolls print , we said that "its important to consider that through the December employment survey period, the Covid case count was up 50% relative to the relevant November period. In early January, it is already up 440% relative to December, so the Covid drag will be an order of magnitude larger in the January data and could easily push net payrolls into negative territory for the next few months. " And sure enough, after several stark warnings by both the Fed and the White House about January''s payrolls report due at 830am on Friday, following a catastrophic ADP print of -301K (which prompted Rabobank to spell out stagflation), we are looking at a payrolls abyss, with increasingly more banks expecting negative prints, while big data estimates based on Google Mobility and the Census Small Household Business Pulse, suggesting a devastating print of -4.6 million and -3.8 million, respectively.

Initial claims for unemployment insurance for the week ending Jan. 29, 2022, dropped for the second straight week.

We saw a nice drop to 238K new jobless claims from the 245K expected, and a healthy step lower than the upwardly revised 261K.

Weekly Jobless Claims Lower-Than-Expected.

Investors are focusing on what has been a mostly positive earnings season, also shrugging off a negative private payroll report that was clearly impacted by the omicron variant spread in January. Google crushed earnings and that optimism has many traders feeling that the bottom is in for the mega-cap tech giants. Apple and Google have []

Another day of gains for markets in Europe has seen the FTSE100 push back above 7,600, while the DAX has proved to be a bit of a laggard, due to weakn

The Nasdaq is set to outperform after stellar results from Alphabet and AMD. ADP payrolls unexpectedly fall. US futures Dow futures +0.18% at 35448 S&P futures +0.77% at 4578 Nasdaq futures +1.4% at 15204 In Europe FTSE +0.9% at 7590 Dax +0.45% at 15653 Euro Stoxx +0.4% at 4242 Apple & AMD smash forecasts Stellar [] The post Nasdaq Jumps on Strong Earnings, ADP Payrolls Fall appeared first on Action Forex .

ADP Signals Biggest Monthly Job Loss Since 2020 COVID Lockdowns Ahead of Friday''s much-narrative-managed payrolls print, ADP''s employment report gives us the first glimpse - outside of the ugly ISM/PMI jobs sub-indices - at just how bad things could get. Everyone from talking heads, banks, The White House, and The Fed has front-run the potentially negative print, as we note that almost half of analysts'' expectations are for a drop in employment in January. Source: Bloomberg So, after December''s big surprise surge in employment (+807k) led by a jump in Services jobs (which was very much absent in the payrolls data for that month), expectations were for ADP to print a considerably lower +180k for January but as we suspected it was a huge miss with ADP printing a terrible 301k drop in jobs... Source: Bloomberg Job losses were in every size cohort and every sector. Tyler Durden Wed, 02/02/2022 - 08:19

ADP nonfarm payroll estimate for January 2022

Disappointing Private Payrolls Data for January.

This was the first negative number on ADP headline since December 2020, and the biggest monthly loss since April 2020.

U.S. Treasury yields fell early on Wednesday, with investor attention turning to ADP''s latest employment change report.