US Stocks Slip Amid Data Deluge; ADP November Employment Beats Views

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US stock futures were slightly lower Wednesday as the market was waiting for a flurry of data that might give the U.S. Federal Reserve the basis it needs to start tapering its $85-billion-a-month asset purchasing program earlier than currently seen in March.

At 8:15 am this morning the ADP National Employment Report showed that 215,000 private sector jobs were created in November, beating the 178,000 estimate. Also, October payrolls were revised upwards by 54,000 to 184,000.

Also out early today was the U.S. October trade deficit, which widened to $40.6 billion compared to the $40.2 billion consensus. The September trade deficit was revised upwards to $43.0 billion from $41.8 billion.

Among other data on the docket today are the Institute for Supply Management November non-manufacturing index, out at 10:00 a.m., expected to be down slightly at 55.00 from 55.4, and new home sales numbers from the Commerce Department for September and October. Home sales are seen up 2.1% in October.

In equities, J.C. Penney ( JCP ) added 0.80% in pre-market trade after saying yesterday that same store sales rose 10% in November. Hewlett-Packard ( HPQ ) also rose, by 1.56% to a new 52-week high of $27.93, after BBC reported the company will cut 1,100 jobs in the U.K.



The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.

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This article appears in: Investing , Commodities

Referenced Stocks: HPQ , JCP

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