U.S. stocks are trading flat this morning following a stronger than expected private payroll report from ADP alongside a small rebound in crude oil prices.
ADP reported this morning that 205,000 private sector jobs were added to the U.S. economy in January, higher than the 190,000 briefing.com consensus.
“Job growth remains strong despite the turmoil in the global economy and financial markets. Manufacturers and energy companies are reducing payrolls, but job gains across all other industries remain robust. The U.S. economy remains on track to full employment by mid-year” said Mark Zandi, chief economist from Moody’s Analytics in a press release.