Private jobs rise; Wal-mart seeks settlement in Morgan case; Ebola spread boosts biotechs
Stocks started the last quarter of the year with losses despite some better-than-expected jobs data.
The report is sometimes a prelude to the closely watched government jobs report on Friday. Economists' expect employers to add anywhere between 185,000 and 289,000 workers to their payrolls in September after only 142,000 increase in August.
Payroll processor ADP reported that private employers added 213,000 jobs in September.
The auto industry is rolling out monthly sales figures this morning. General Motors (GM), Chrysler and Nissan reported another strong month of sales in September, but Ford (F) sales fell slightly.
“[In] the auto sector, sales have been cruising…this is a good sign the economy is picking up no matter how you slice it,” said Yahoo Finance’s Jeff Macke.
Related: Ebola stocks jump after first U.S. case; Angie's List for sale?; American Apparel founder may stay
News that the Centers for Disease Control and Prevention confirmed the first diagnosed case of the Ebola virus in the U.S gave a boost to biotech firms developing treatments and vaccines for the deadly virus including, Tekmira Pharmaceuticals (TKMR); BioCryst Pharmaceuticals (BCRX); NewLink Genetics (NLNK) and Sarepta Therapeutics (SRPT). The CDC has warned that the number of infections could rise to as many as 1.4 million people by early next year without a large-scale intervention to contain the virus. The World Health Organization says Ebola has claimed the lives of more than 3,000 people in West Africa, where the outbreak began.
Related: Amazon, Disney to end dispute
Amazon (AMZN) and Disney (DIS) look like they're ready call a truce after a two month long battle. Amazon had blocked pe-orders of some Disney DVDs over a dispute on everything from pricing to promotion. But now insiders tell the Wall Street Journal that the two sides are close to settling their differences just in time for the holidays.
However, a similar dispute between Amazon and publisher Hachette has yet to be settled.
