Japan Regional Bank Stocks Drop After Zentoshin Bankruptcy Sparks Credit Risk Concerns 
Oil Prices Rise as U.S.-Iran Conflict Fuels Strait of Hormuz Supply Fears 
Iran Targets U.S. Bases in Bahrain, Kuwait as Hormuz Conflict Escalates and Oil Prices Jump 
Cuba Power Outage Sparks Havana Protests as Fuel Crisis Deepens 
Germany Seen Gaining as U.S. China-Built Ship Fees Reshape Trade 
Fed Chair Kevin Warsh Launches Task Forces to Overhaul U.S. Monetary Policy Framework 
US Stock Futures Steady as US-Iran Tensions and Fed Inflation Concerns Weigh on Markets 
Dollar Slips After Fed Minutes as Iran Tensions, Inflation Risks Keep Markets Cautious 
Today ADP employment numbers were released from US for the month of December.
ADP number shows the US labor markets are showing a lot of volatility lately.
There are two things to note in the headline that,
- Return to weakness just after a month of strength.
- November payroll got a revision. It has now revised to 215,000 (down from 228,000). October was revised higher to 124,000 (+5,000).
Key highlights –
- Non-farm private sector employment grew at 153,000 in December, median expectation was for 173,000.
- Small business sector hiring at 18,000, compared to 37,000 last month.
- Employment in franchise increased to 23,300 compared to last month’s 15,100.
- Mid-sized companies added 71,000 jobs compared to last month’s 89,000 jobs.
- Large sector added just 63,000 compared to last month’s 90,000 jobs.
- Manufacturing sector payroll registered 9,000 jobs losses compared to 10,000 job losses last month.
- 16,000 jobs were lost in the goods-producing sector, compared to last month’s 11,000 jobs losses.
- Construction sector saw 2,000 jobs loss, compared to last month’s 2,000 jobs gain.
- Services sector employment remains robust as payroll added 169,000 people in December November gains were 228,000.
The Dollar index is currently trading at 102.39, flat for the day so far.
