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ADP Payrolls Report Spurs Market

By Market News Video Staff, Wednesday, August 31, 9:34 AM ET

Payroll processing firm Automatic Data Processing (NASDAQ:ADP) said today that according to its data, private-sector payrolls rose 91,000 in August.

The figure was less than the 100,000 job additions economists had predicted, but stocks seem to be reacting positively to the news.

The government releases its own payroll report for August on Friday.

The SPR S&P 500 (AMEX:SPY) is trading up 0.76% Wednesday.

The iShares Gold Trust (AMEX:IAU) trading down 0.95%, and the SPDR Gold Shares (AMEX:GLD) trading down 0.9%.

The dollar is giving up some ground versus major currencies. The U.S. Dollar Bullish Fund (AMEX:UUP) is trading down about 0.1%.

The DB Oil Fund (AMEX:DBO) trades down 0.8% Wednesday.

Find the right mix of model portfolios today at PortfolioChannel.com

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