ADP Employment Report: Down 693K, vs. Consensus of Down 495K
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ADP Employment report for December comes in at down 693,000, versus the consensus of down 495,000.
UPDATE: The weaker-than-expected ADP report is weighing on the markets today. Earnings warnings from Intel (Nasdaq: INTC) and Time Warner (NYSE: TWX) this morning, as well as news last night that Alcoa (NYSE: AA) will cut about 15,000 jobs from its workforce are also putting pressure on the broader indices today.
The Dow opened today's trading session down 154 points, while the Nasdaq was down 35 and the S&P 500 was down 17.
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