Stock Futures Slither Lower After Worst ADP Jobs Report in 9 Years

By CCN: US stock futures slithered lower ahead of Wednesday’s opening bell in response to alarming jobs data that missed analyst estimates by a concerning margin.

Dow Futures Sink From Session High

As of 8:33 am ET, Dow Jones Industrial Average futures had gained 97 points or 0.38%, placing them well off their morning highs. At last check, DJIA futures traded at 25,443 – nearly 100 points below their session peak of 25,524.

dow futures, stock futures

Futures tracking the Dow and other stock indices slid after the publication of disastrous jobs data. | Source: Yahoo Finance

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ADP Jobs Data Reignites Recession Fears

Stock futures relinquished their gains after ADP and Moody’s Analytics released a batch of worrisome employment data. Private payrolls added just 27,000 jobs in May, missing the analyst consensus estimate of 173,000 by more than 80%.

Even more concerning: CNBC reports that the May jobs print was the worst since March 2010, nearly a decade ago. That’s sure to reignite fears that the US economy sits on the brink of a recession.

Earlier, stock futures had surged, setting the Dow and its peers up to build on the June 4 rally that saw them post their second-best single-session rally of 2019.

Developing…stay tuned for additional stock market coverage.

Stock Futures Slither Lower After Worst ADP Jobs Report in 9 Years 1
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CryptoCurrencyUSDChange 1hChange 24hChange 7d
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Binance Coin312.56 0.12 % 8.06 % 9.78 %
Cardano1.370 0.73 % 11.32 % 7.57 %
Dogecoin0.2560 0.48 % 14.33 % 16.70 %
XRP0.6779 0.25 % 7.05 % 18.90 %
USD Coin1.000 0.18 % 0.14 % 0.07 %
Polkadot16.38 0.39 % 5.63 % 28.28 %
Binance USD1.000 0.08 % 0.11 % 0.25 %

bitcoin
Bitcoin (BTC) $ 34,837.00
ethereum
Ethereum (ETH) $ 2,003.50
tether
Tether (USDT) $ 1.00
binance-coin
Binance Coin (BNB) $ 312.35
cardano
Cardano (ADA) $ 1.36
dogecoin
Dogecoin (DOGE) $ 0.253926
xrp
XRP (XRP) $ 0.678692
usd-coin
USD Coin (USDC) $ 0.998430
polkadot
Polkadot (DOT) $ 16.34
binance-usd
Binance USD (BUSD) $ 0.998322