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Current DateTime: 07:46:12 24 Nov 2009
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Current DateTime: 07:46:13 24 Nov 2009
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Current DateTime: 07:46:13 24 Nov 2009
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Current DateTime: 07:46:13 24 Nov 2009
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  • Winterizing Your Portfolio

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Futures Waver After ADP Jobs Report
Published: Wednesday, 5 Aug 2009 | 9:17 AM ET
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By: CNBC.com

Futures slipped Wednesday following a disappointing jobs report from ADP and cautious outlook from Dow component P&G.

  • Dow 30: Extra-Hour Quotes
  • Pre-Markets/Futures Data
  • ADP said 371,000 jobs were cut from private-sector payrolls in July, more than the 335,000-loss expected.

    This came after Challenger, Gray & Christmas reported that planned job cuts jumped 31 percent last month.

    Both reports are being watched closely ahead of Friday's jobs report from the government, which is expected to show 320,000 jobs were dropped from nonfarm payrolls in July, following a loss of 467,000 in June.

    Still to come: The ISM will deliver its reading on the services sector at 10am ET — economists expect to see a reading of 48, compared with June's 47. Factory orders are also due out at 10 and are expected to be unchanged.

    At 10:30am, weekly crude inventories are due out from the Energy Department.

    The big earnings news this morning was from Procter & Gamble [PG  Loading...      ()   ]. The company, which makes Tide laundry detergent and Pampers diapers, beat expectations but delivered a cautious outlook for the current quarter.

    Cisco [CSCO  Loading...      ()   ] is also going to be in focus today ahead of earnings from the tech bellwether, due out after the bell today.

    Stocks that may move today following after-the-bell releases on Tuesday include Kraft Foods [KFT  Loading...      ()   ] , which beat estimates, and Electronic Arts [ERTS  Loading...      ()   ] , which reported a smaller than expected quarterly loss.

    Whole Foods [WFMI  Loading...      ()   ] also beat estimates with its latest numbers.

    President Obama delivers remarks on the economic outlook in Wakarusa, Indiana — he's scheduled to speak at 11:55 am New York time.

    © 2009 CNBC.com
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    CNBC HIGHLIGHTS

    • Warren Buffett and Bill Gates discuss the economy and other subjects with CNBC's Becky Quick.
    • …you'll want to be prepared. Tips for getting the most out of the post-Thanksgiving shopping frenzy.
    • A new McDonald's in Manhattan is the nation's first to sport a sleek, chic interior imported from stores in London and Paris.
    • One shopper explains why he gets up at 3am on the day after Thanksgiving to go shopping every year.
    • A diet high in fat and sugar might actually be good for your portfolio.
    • From the AIG&T to the Merrill Lychee, Jane Wells lists this year's holiday cocktails.
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