Stock Market Update
02-Jul-25 09:15 ET
Futures lower after weak ADP employment report
Market is Closed
[BRIEFING.COM] S&P futures vs fair value: -2.00. Nasdaq futures vs fair value: -27.00.
The stock market is on track for a lower start with futures on the S&P 500 trading two points below fair value.
Equity futures traded little changed before the market received the ADP Employment report for June (Briefing.com consensus 97,000), which showed an unexpected decrease in payrolls (-33,000) ahead of tomorrow's release of the Employment Situation report (Briefing.com consensus 120,000) from the Bureau of Labor Statistics.
Treasuries hover near lows despite the weak report with the 10-yr yield up four basis points at 4.29%.
The health care sector could see some early weakness after Centene (CNC 38.46, -18.19, -32.1%) withdrew its guidance for FY25, which prompted downgrades from UBS and JPMorgan.
