ADP:188,000 Jobs Added in June

Stock-MarketThe latest ADP payroll report for June showed that U.S. private nonfarm payrolls added 188,000 payroll jobs in June, beating estimates of 160,000 jobs and surpassing May’s revised addition of 134,000.

Investors are still waiting for the results of Friday’s closely watched June non-farm payroll jobs report with estimates of 165,000 jobs for the month of June.

Jobless claims fell last week by 5,000 to 343,000, in line with estimates, revealing a second week in a row of lower jobless claims.

Equity futures have declined this morning largely due to political unrest in Egypt after Egyptian President Mursi rejected calls to resign ahead of an imposing deadline today established by the Egyptian military as crowds swell in Tahrir Square.

Oil prices are spiking higher to over $102.00 a barrel.

The Euro is weakening today after Prime Minister Coehlo told a T.V. audience that Portugal’s Foreign Affairs Minister Paulo Portas had resigned. President Anibal Cavaco Silva’s office said in a statement he will meet the leader of the Socialists, the main opposition group, later on Wednesday.

Today is a shortened trading day with the market closing at 1:00 pm EST.

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