2:00pm (EST)
The market is mixed as we head into the final few hours of trading. The bears got a nice jump at the bell following worse-than-expected data from the ADP Employment Change report which showed only 119,000 private-sector jobs were added in April. Wall Street was looking for a print of at least 170,000 job additions.
Elsewhere, Factory Orders also were slightly ahead of expectations, coming in at 1.5% for March, versus expectations for a 1.6% drop.
Thursday is a heavy day for the market as the Challenger Jobs Cuts will set the tone and comes out at 7:30am (EST). Initial and Continuing Claims are due out an hour before the bell along with the latest Productivity and Unit Labor Costs numbers. At 10am, the ISM Services report is due out.
Earnings for Thursday include: Bebe Stores (BEBE, $8.46, up $0.52), First Solar (FSLR, $18.09, down $0.33), General Motors (GM, $22.93, down $0.38), Liquidity Services (LQDT, $55.49, up $2.52), MGM Resorts (MGM, $13.73, up $0.44), Public Storage (PSA, $145.27, up $0.23) and Trimble Navigation (TRMB, $54,15, up $0.20).
As we head to press, here is how we look.
The Dow is down 24 points to 13,255 while the S&P is lower by 5 points to 1,400. The Nasdaq is up 4 points to 3,054.
Some of our current trades are doing well today so let’s go check on them as well.
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