ADP
Automatic Data Processing, Inc. · Technology · Software - Application
TECHSellZACKSHold
R500#483 today
$257.68
-2.38% today · -2.27% 1W
Oct 2 close or latest
PreviewWhy it's moving
Underperforming without a clear catalyst yet
- ADP −2.38% on the last session vs SPY +0.74%: −3.1 pts of stock-specific move.
- Aftermath, big drop (Oct 2): After its 68 big drops in the past 5 years, ADP typically gained 0.9% over the next week (median) and was higher 60% of the time; half the outcomes fell between -0.8% and +2.7%. An ordinary week: +0.3%. Among S&P 500 stocks after big drops, that ranks #62 of 500.
- Market backdrop (Fri): Average Hourly Earnings m/m 0.1% vs 0.3% expected (cooler); Non-Farm Employment Change 29K vs 89K expected (weaker); S&P futures +0.41%, 10-year yield -5bp in the 30 minutes after.
Assembled from Wallsti's own signals.
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Hottest comment
Private payroll losses accelerated in the past four weeks, ADP reports
They want their cake and to eat it too. Rate cuts support short-term market growth while withholding bad news prevents a huge market panic. Letting these unreliable private businesses like ADP report payroll gives the Fed indication that things aren't great while investors can always handwave ADP's stats as incomplete. We'll likely keep kicking the can down the road, as a shutdown will probably happen again in February. If we're headed for an economic recession, it could be a long time before the market realizes.
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