ADP National employment data for June 150K versus 160K estimate

• Prior month 152K revised higher to 157K
• goods +14 K
• services it was 138K
• small firms +5K
• median +88K
• large companies +58K
• leisure and hospitality 63K
• construction 27K
• professional and business services +25K
• trade and transportation/utilities +15K
• natural resources/mining -8K
• The median wage for job stayers came in at 4.9% YoY versus 5.0% last month. For job changers, the wages rose 7.7% versus 7.8% last month.

Note that the estimate for us non-farm payroll data on Friday at 8:30 AM ET is for 190K. The UN year average hourly earnings is expected to decline to 3.9% versus 4.1% last month.

US yields remain mixed with the shorter end higher and the longer end lower:

• 2-year yield 4.764%, +2.5 basis points
• 10 year yield 4.423%, -1.2 basis points
• 30-year yield 4.582% -2.7 basis points

S&P futures are implying a decline of -4 points. NASDAQ features are implying a decline of -16 points and the Dow Industrial Average average is implying a decline of -8.85 points.

This article was written by Greg Michalowski at www.forexlive.com.