U. S. stock index futures weakened before trading on Thursday, with the just-released May ADP employment data for small non-farmers significantly exceeding expectations and previous values.
As of press time, Dow futures are down 0.6%, the S & P 500 is down 0.7%, and Nasdaq futures are down 1.0%.
The UK's FTSE 100th index fell 1.2 per cent, Germany's DAX index fell 0.7 per cent and France's CAC-40 index fell 0.7 per cent.
The actual number of ADP employment in the United States in May was 978000, with an expected value of 650000 and a previous value of 742000. ADP employment in the United States rose by 978000 in May, the highest increase since June last year.
After the release of the data, the spot gold price fell by $3 in the short term, refreshing its daily low again.
The dollar index rose slightly, refreshing this week's high to 90.25, up about 0.38%.
Nela Richardson, chief economist at ADP, said that while employment among commodity producers was growing steadily, service providers contributed the largest share of the growth, far exceeding the average monthly growth over the past six months. Companies of all sizes have experienced job growth, reflecting the epidemic and improved economic conditions.
Nela Richardson, chief analyst at ADP, noted that private sector employment data had improved significantly from recent months, the strongest increase since the early days of the recovery.
Since the beginning of this year, a total of 1.8 million jobs have been created in the United States, a gap of more than 8 million compared with the level of employment before the epidemic. At this rate, it will take about a year before the US job market returns to the epidemic level.
The recovery of the US job market is also extremely uneven. The analysis shows that in many West Coast states, including California, Nevada, Arizona and New Mexico, the ratio of job offers to job seekers is 0.9%, while on the East Coast, including New York, Pennsylvania, Connecticut and New Jersey, the ratio is 1.1%. In the state of Hawaii, the figure is 0.7 per cent.
On the other hand, there has been an obvious labor shortage in the northern part of the western mountains of the United States, the Great Plains and the northeast of New England. For example, in the Great Plains of Iowa, Nebraska, Kentucky, North Dakota and South Dakota, the ratio of jobs to job seekers is 3.6. The data show that there seems to be an unusual relationship between open socio-economic activity and employment recovery under the epidemic.
Fed governor Brainard said at an event at the New York Economic Club on Monday that many companies were forced to cut staff in order to make a living during the outbreak and are still struggling or afraid to expand capacity easily. As a result, the demand-side growth rate of the job market is higher than the supply-side recovery in the current restart phase.
The optimistic expectation of most Fed members is that with the full resumption of classroom teaching in schools across the country in the autumn and the expiration of additional unemployment benefits from state governments during the outbreak by September, there will be a significant boost to the US job market in the summer.
Closely watched by the market, the US non-farm payrolls report for May will be released on Friday. The market is now expected to create 655000 new jobs, with a previous value of 266000. The market expects the unemployment rate to be 5.9%, compared with 6.1%. The market expects the United States to have an average annual hourly wage rate of 1.6% in May, compared with a previous value of 0.3%.
Focus stocks
WSB concept stocks fell sharply before the day's trading, and Gauss Electronics fell 17%. PersonExpress dropped 15%. 3B Home furnishings.Down 13%, game station跌5%。
AMC cinema quickly fell by more than 10% before trading. The company has signed equity allocation agreements with B.riley Securities and Citigroup to sell up to 11.55 million shares on the floor.
TeslaDown 1.1% before trading, about 6000 cars were recalled yesterday due to loose bolts.
Delta Airlines fell 1.61% in pre-market trading. The company expects a pre-tax loss of $10 million to $1.2 billion in the second quarter.
C3.ai fell nearly 10% before trading, with revenue of $183 million in fiscal 2021, slightly below market expectations.
Splunk fell 3.87% before trading, lost more than the market expected in the first quarter, and was cut its target price by a number of investment banks.
Workhorse rose more than 23%, with recent data showing a large number of American retail investors entering the stock.
New OrientalDown more than 3% before trading, New Oriental was recently removed from the FTSE China 50 index.
TouniuIt fell more than 2% before trading, and revenue fell 55% in the first quarter compared with the same period a year earlier.