Futures Sell Sharply After ADP Employment Number...Will It Hold?

The futures were flat going into the ADP Employment number. The ADP Employment number gives the market a view of private sector hiring or firing. With lofty expecations, the jobs number missed by quite a bit. Economists had expected a rise of 40,000. The number, released at 8:15am ET, came in at -23,000. This is a miss of 63,000. The futures have sold sharply.

While the markets are lower, they may not sell dramatically today due to the light volume holiday week. The lighter the volume, the more likely the markets stay around the flat line. Today is the last day of the first quarter and with the markets closed on Friday, volume starting at lunch, should remain very light.

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