Payrolls for US companies increased by a seasonally adjusted 185,000 in July, which is moderately below Econoday.com’s consensus estimate for a 210,000 advance. The gain marks the smallest rise in three months, according to this morning’s release of the ADP Employment Report. Meanwhile, the year-over-year pace continued to weaken, sliding to a 2.26% gain for the year through last month—the slowest annual growth rate in more than a year.
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The US stock market has witnessed its share of turbulence in recent months, but the jump in price volatility hasn’t dented the leadership role of the health care sector. At the opposite extreme: energy companies continue to dominate the field in the category of downside momentum.
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● US factory orders rise in June–first increase in 3 months
● US small-business borrowing rises to record in June
● Redbook: US retail sales advance in July
● CoreLogic’s US Home Price Index surges 6.5% for year through June
● Eurozone retail sales sharply lower in June
● Gallup’s US Economic Confidence Index falls to 9-month low in July