U.S. stock futures declined after the ADP employment report surprised on the downside.
The report showed that private employers shed 23,000 jobs in March. This is fewer than the 24,000 lost in the previous month, but economists were expecting to see a gain of 40,000 private jobs. The Labor Department’s nonfarm payroll report is due on Friday, and is expected to show a strong gain.
The Chicago PMI, a regional reading on manufacturing, is due at 9:45 a.m. ET. Economists expect the index to show a reading of 61 in March, down slightly from 62.6 in February. Shortly after that, the government will be out with February factory orders, which are expected to rise slightly.
- Harrington Wealth Management
- Our firm provides comprehensive trust and investment management services by employing a customized asset allocation approach. By focusing on the individuality of each client, Harrington Wealth Management Company has helped high net worth individuals, families, and small institutions grow and sustain their wealth through proven investment practices since 1994. A fee-only advisor, we also offer other financial services from our offices in California, Kansas and Indiana that include custody, estates, land trusts, probate administration, guardianships, personal trust administration, retirement plan services, and investment consulting services.
