ADP Disappoints

The stock is kind of flattish today which is probably good news considering how strong yesterday was. I’m always a bit skittish whenever we immediately hand back impressive gains. At one point today, the S&P 500 got as high as 1,876.53.

Wall Street is gearing up for Friday’s jobs report. We got a small preview today with the ADP report. ADP is a private payroll firm so their monthly reports don’t always match up with what the government says.

According to ADP, the economy added 139,000 private sector jobs last month. That’s disappointing. Economists were expecting a gain of 158,000. For Friday’s report, the consensus among economists is for a gain of 150,000 jobs. The question we want to know is, how badly has weather impacted hiring? That’s a mystery right now.

fredgraph03052014

There’s not much movement today on our Buy List. I see that Ford ($F) has touched above $15.60 which is its highest price in a month. Also, Bed Bath & Beyond ($BBBY) is creeping up to $69 per share. This stock has had a rough road, but it’s slowly recovering. At one point, BBBY lost $18 per share in just a few weeks. It’s made back about one-third of what it lost. Our buddy Carl Icahn said, “I’ve never seen worse corporate governance than eBay.” Shares of eBay ($EBAY) are still holding above $59.

Posted by on March 5th, 2014 at 2:07 pm


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