Companies added a sharply higher number of workers in October, according to this morning’s ADP Employment Report. Private employment increased by a strong 235,000, the biggest monthly advance since May. More importantly, the one-year change accelerated to the fastest pace in more than a year – a sign that the near-term outlook for the labor market and the economy remains upbeat.
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Equities in emerging markets bounced back in October after a mild setback at the end of the third quarter. This slice of the global stock market gained 3.5%, posting last month’s strongest performance for the major asset classes. The rest of the field was mostly higher, with losses generally contained to foreign bonds and US real estate investment trusts.
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Terror attack with truck in New York kills eight: NY Times
Japan’s Abe re-elected as prime minister: Nikkei
Federal Reserve expected to keep rates steady today: Reuters
House Republicans delay release of tax reform legislation: Politico
US Consumer Confidence Index in Oct rises to 17-year high: Bloomberg
US employment costs rise at faster rate in Q3: US Labor Dept
House prices in US up sharply in Aug despite slower sales: USA Today
Chicago PMI rises to six-year high in Oct: ISM Chicago
Eurozone GDP growth beats expectations in Q3: RTT