$$$...Fed may stop QE3 with this numbers......
By flashcrashcoming . 28 seconds ago . Permalink
August job additions?
A day ahead of the August jobs report, U.S. jobless claims fell last week as more Americans found employment than estimated, two reports said Thursday, one day before the August payrolls report. Read more on jobless claims.
ADP Employer Services found U.S. companies added 201,000 to payrolls last month, the largest jump in five months. Read more about the ADP numbers.
“Hitting that 200,000 certainly catches the street’s attention,” said Andrew Fitzpatrick, director of investments at Hinsdale Associates Inc.
The reports bolstered optimism about Friday’s employment report, with consensus estimates projecting the addition of 125,000 or more jobs and the unemployment rate to hold at 8.3%. Read preview of jobs report.
A gauge of activity in the services industry also came in better than anticipated, rising to 53.7% in August. Read more on ISM.
“The general U.S. economy has improved its position from the overstocked liquidating days of 2007-08, although with 46% of S&P 500 sales coming from abroad (43% for discretionary and 47% for staples), the European recession is still holding sales growth down,” noted Howard Silverblatt, senior index analyst at S&P Dow Jones Indices..