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The Automatic Data Processing (ADP) employment report was released before the opening bell Wednesday morning, showing that the private sector lost 298,000 jobs during August. Expectations called for a loss of 255,000 jobs, but the loss was better than the revised 360,000 jobs lost during July.

A spokesperson for ADP noted a "gradual improvement in labor markets" because "monthly losses are diminishing." That said, the group did note that job losses are likely to continue for "several more months."

In addition to this news, Challenger Gray & Christmas reported that layoffs planned by major U.S. corporations fell 21% from July to August. The 76,456 layoffs in August were the second-lowest amount cut in 2009.

Continue reading Job cuts slow in August, more not-so-bad news

Job cuts slow in August, more not-so-bad news originally appeared on BloggingStocks on Wed, 02 Sep 2009 09:30:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>adpadp jobs dataAdpJobsDatachallenger gray christmasChallengerGrayChristmaseconomic crisiseconomic recoveryEconomicCrisisEconomicRecoveryfeaturedjob lossesJobLossesWed, 02 Sep 2009 09:30:00 EST<![CDATA[Closing Bell: Did the bears just capitulate? (GRMN, BX, V, AMZN, C, BAC, DIS)]]>http://www.bloggingstocks.com/2009/05/06/closing-bell-did-the-bears-just-capitulate-grmn-bx-v-amzn/http://www.bloggingstocks.com/2009/05/06/closing-bell-did-the-bears-just-capitulate-grmn-bx-v-amzn/http://www.bloggingstocks.com/2009/05/06/closing-bell-did-the-bears-just-capitulate-grmn-bx-v-amzn/#commentsFiled under: , , , , , ,

Today was the day that the stress test results leaked out, showing many banks needed to raise capital. That had no negative impact as the numbers could have been much worse, and this notion may have dealt a final blow to the bears betting that the financials (and market) were going to tank lower on bad news.

Stronger than expected ADP jobs data came out ahead of this week's unemployment report and helped. Here were the unofficial closing bell levels:

Dow 8,513.95 +103.30 (1.23%)
S&P 500 919.42 +15.62 (1.73%)
Nasdaq 1,759.10 +4.98 (0.28%)

Top Analyst Upgrades
Top Analyst Downgrades

Continue reading Closing Bell: Did the bears just capitulate? (GRMN, BX, V, AMZN, C, BAC, DIS)

Closing Bell: Did the bears just capitulate? (GRMN, BX, V, AMZN, C, BAC, DIS) originally appeared on BloggingStocks on Wed, 06 May 2009 16:10:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>adp jobs dataAdpJobsDatastress testStressTestunemploymentVWed, 06 May 2009 16:10:00 EST