Trump Eyes $54 Billion South Korean Investment in Alaska LNG 
Oil Prices Hold Steady as Middle East Supply Risks Persist 
US Stocks Slip as Treasury Yields Ease, AI Trade Rebounds 
Japan Factory Output Unexpectedly Falls 1.7% in August 
Australia Trade Surplus Shrinks Sharply as Imports Surge 
Asian Currencies Mixed as Yen Slides on BOJ Rate Signals 
Dollar Eases Near Two-Month High as Yen Rebounds 
Nasdaq Futures Jump as Micron Earnings Boost AI Trade 
Gold Prices Steady as Markets Await U.S. Jobs Data 
Fed’s Logan Signals 50 Basis Points More in Rate Hikes 
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Today ADP employment numbers were released from US for the month of February.
ADP number shows the US labor markets are showing a lot of volatility lately.
There are two things to note in the headline that,
- January begins solid.
- January payroll got a revision. It has now revised to 261,000 (up from 246,000).
Key highlights –
- Non-farm private sector employment grew at 298,000 in February, the median expectation was for 190,000.
- Small business sector hiring at 104,000, compared to 62,000 last month.
- Employment in franchise increased to 17,100 compared to last month’s 23,300.
- Mid-sized companies added 122,000 jobs compared to last month’s 102,000 jobs.
- Large sector added just 72,000 compared to last month’s 83,000 jobs.
- Manufacturing sector payroll registered 32,000 jobs gains compared to 15,000 job gain last month.
- 106,000 jobs were gained in goods producing sector, compared to last month’s 46,000 jobs gains.
- Construction sector saw 66,000 jobs gains, compared to last month’s 25,000 jobs gain.
- Services sector employment remains robust as payroll added 193,000 people in February. January gains were 201,000.
Dollar index is currently trading at 102.15, up by 0.3% for the day so far. Remember the focus is on election in Europe, but another massive hit for the dollar.
