Home / Top News / Stock Market outlook for tomorrow: ADP jobs, auto sales

Stock Market outlook for tomorrow: ADP jobs, auto sales


Workers assemble cars at the newly renovated Ford’s Assembly Plant in Chicago, June 24, 2019.

Jim Young | AFP | Getty Images

Here are the most important things to know about Wednesday before you hit the door.

1. Important September jobs data

We’ll get a first reading on the strength of the labor market on Wednesday with private payroll data from ADP for September coming out at 8:15 a.m. Economists surveyed by Dow Jones are estimating 125,000 jobs added in September, down from 195,000 created in August.

Wednesday’s ADP job count comes ahead of Friday’s more closely watched Labor Department nonfarm payrolls report. A robust job market could curb investors fears that the U.S. economy may be slipping into a recession. Data on Tuesday showing the weakest manufacturing activity in a decade knocked the stock market.

2. Auto sales set to slump

A slew of automakers are set to report auto sales numbers on Wednesday. Toyota and Hyundai Motors reported a large slump in September sales on Tuesday, largely attributed to the Labor Day falling in August instead of September.

Auto analysts were expecting this drop due to the holiday weekend. Cox Automotive is forecasting September U.S. new-vehicle sales volume to fall nearly 14% from last September. Automakers Ford, Fiat Chrysler and General Motors are all releasing quarterly auto sales numbers on Wednesday.

3. More volatility in October?

October, historically the most volatile month of the year for stocks, is already living up to its name.

Stocks, along with bonds and the dollar, dropped on Tuesday after that weak manufacturing report fueled worries over the U.S. economy. However, stocks could turn around on hopes that a meeting between the U.S. and China next week could improve the trade deal outlook.

The Cbeo Volatility index, or the fear gauge of investors, already spiked above 18 points on Tuesday.

Major events (all times ET):

8:15 a.m. ADP Employment

9:15 a.m. Ford auto sales

10:50 a.m. New York Fed President John Williams

9:15 p.m. Philly Fed President Patrick Harker

Major earnings:

Lennar (before the bell)

Bed Bath & Beyond (after the bell)

About admin

Check Also

How yelling at kids affects their happiness, success

Almost every parent yells at their child eventually, no matter how hard they try to …