ADP Shows Jobs Gain of 568,000 Last Month

The stock market opened lower today but has recovered nicely, and we may make a small gain today. This, we’re told, is due to promising talks regarding the debt ceiling. Hmm…we’ll see.

This is also jobs week and the big labor report will come out on Friday. Today we got the ADP report, and it showed a gain of 568,000 jobs in September. Wall Street had been expecting 430,000. I should caution you that the ADP report is not always a good indicator of the government’s official report.

Shares of Intercontinental Exchange (ICE) are close to a new high. The stock’s most recent high is from July. ICE got as high as $121.55 today. The 52-week high is $122.42.

The White House said that Covid home test sales are ready to soar. This is good news for Abbott Labs (ABT):

The White House will announce Wednesday that the nation’s supply of at-home Covid-19 tests is on track to triple by early November, driven by recent government investments and the FDA’s emergency authorization of a test from ACON Laboratories.

The Biden administration projects that even more tests should be available by the end of the year. A White House official told POLITICO the administration is purchasing another $1 billion of at-home tests that will contribute to a quadrupling of the market to 200 million tests per month in December.

Posted by on October 6th, 2021 at 3:06 pm


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