Dow went up 15, advancers just ahead of decliners & NAZ lost 9. The MLP index was off pennies in the 284s & the REIT index fluctuated in the 349s. Junk bond funds did little & Treasuries were flattish. Oil was up pennies & gold added 2 to 1277.
AMJ (Alerian MLP Index tracking fund)
US private employers added 135K jobs in Sep, topping expectations even as Hurricane Harvey & Irma "significantly impacted smaller retailers," a report showed. The reading was smallest increase since Oct 2016. The forecast for the ADP National Employment Report was to show a gain of 125K jobs, with estimates ranging from a decrease of 25K jobs to a gain of 206K. Private payroll gains in the month earlier were revised down to 228K from an originally reported 237K increase. The report is jointly developed with Moody's Analytics. The ADP figures come ahead of the Labor Dept's more comprehensive non-farm payrolls report on Fri, which includes both public & private-sector employment. Economists are looking for private payroll employment to have grown by 83K jobs in Sep, down from a gain of 165K the month before & total non-farm employment is expected to have increased by 90K. The unemployment rate is forecast to stay steady at the 4.4% recorded a month earlier.
US private sector adds 135,000 jobs in September: ADP
US services companies in Sep expanded at the strongest rate in dozen years as a measure for new orders climbed sharply. The Institute for Supply Management says its services index rose last month to 59.8 from 55.3 in Aug. The Sep reading was the highest since Aug 2005 (a reading above 50 signals growth). The services sector has expanded for 93 straight months. New orders & business activity both rose last month, while a measure for employment improved slightly. Private service-sector workers account for more than 70% of American jobs. Improving conditions point to continued economic growth in the months ahead.
PepsiCo (PEP), a Dividend Aristocrat, had softer soda sales in the US, but higher sales of its Frito-Lay snacks which helped Q3 profit rise 8% from the same period a year ago. Sales of its beverages in North America, its biggest market, fell 3% in the qtr. But sales at its North America Frito-Lay business, which makes Cheetos, Fritos & Tostitos, rose 3%. Overall, the company reported EPS of $1.49, beating $1.37 in the same qtr a year ago. Adjusted EPS was $1.48, similar to $1.48 expected by analysts. Revenue rose 1% to $16.24B, missing the $16.41B estimate. The company now expects EPS for the full year to be $5.23, up from its previous forecast of $5.13. The stock fell 21¢. If you would like to learn more about PEP, click on this link:
club.ino.com/trend/analysis/stock/PEP?a_aid=CD3289&a_bid=6ae5b6f7
Traders are back to twiddling their thumbs, waiting for news to stimulate buying & selling. Bullish thoughts about tax reform are still in the air, but that will take time Chances the rest of today will be a good time to take a nap.
Dow Jones Industrials
AMJ (Alerian MLP Index tracking fund)
| CL=F | Crude Oil | 50.27 | -0.15 | -0.3% |
| GC=F | Gold | 1,276.30 | +1.70 | +0.1% |
US private employers added 135K jobs in Sep, topping expectations even as Hurricane Harvey & Irma "significantly impacted smaller retailers," a report showed. The reading was smallest increase since Oct 2016. The forecast for the ADP National Employment Report was to show a gain of 125K jobs, with estimates ranging from a decrease of 25K jobs to a gain of 206K. Private payroll gains in the month earlier were revised down to 228K from an originally reported 237K increase. The report is jointly developed with Moody's Analytics. The ADP figures come ahead of the Labor Dept's more comprehensive non-farm payrolls report on Fri, which includes both public & private-sector employment. Economists are looking for private payroll employment to have grown by 83K jobs in Sep, down from a gain of 165K the month before & total non-farm employment is expected to have increased by 90K. The unemployment rate is forecast to stay steady at the 4.4% recorded a month earlier.
US private sector adds 135,000 jobs in September: ADP
US services companies in Sep expanded at the strongest rate in dozen years as a measure for new orders climbed sharply. The Institute for Supply Management says its services index rose last month to 59.8 from 55.3 in Aug. The Sep reading was the highest since Aug 2005 (a reading above 50 signals growth). The services sector has expanded for 93 straight months. New orders & business activity both rose last month, while a measure for employment improved slightly. Private service-sector workers account for more than 70% of American jobs. Improving conditions point to continued economic growth in the months ahead.
Survey: US services sector improved at best pace in 12 years
PepsiCo (PEP), a Dividend Aristocrat, had softer soda sales in the US, but higher sales of its Frito-Lay snacks which helped Q3 profit rise 8% from the same period a year ago. Sales of its beverages in North America, its biggest market, fell 3% in the qtr. But sales at its North America Frito-Lay business, which makes Cheetos, Fritos & Tostitos, rose 3%. Overall, the company reported EPS of $1.49, beating $1.37 in the same qtr a year ago. Adjusted EPS was $1.48, similar to $1.48 expected by analysts. Revenue rose 1% to $16.24B, missing the $16.41B estimate. The company now expects EPS for the full year to be $5.23, up from its previous forecast of $5.13. The stock fell 21¢. If you would like to learn more about PEP, click on this link:
club.ino.com/trend/analysis/stock/PEP?a_aid=CD3289&a_bid=6ae5b6f7
Higher sales of Frito-Lay snacks helps boost PepsiCo profit
Traders are back to twiddling their thumbs, waiting for news to stimulate buying & selling. Bullish thoughts about tax reform are still in the air, but that will take time Chances the rest of today will be a good time to take a nap.
Dow Jones Industrials
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