Wednesday's Trading: 5 Things to know
The ADP report on private hiring will be the first of three labor-related reports this week
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U.S. Bank Asset Management Group CIO Eric Freedman provides insight on the stock market on 'The Claman Countdown.'
Here are the key events taking place on Wednesday that could impact trading.
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ADP REPORT: The payroll processing firm ADP releases its National Employment report for May. Economists are looking for a gain of 300,000 private-sector jobs, up from a much weaker-than-expected tally of 247,000 jobs in April.
"Now Hiring" sign in a store window. (Photo by Tim Boyle/Getty Images)
JOB OPENINGS: The Labor Department is expected to say that there were 11.4 million job openings available at the end of April, down slightly from a record 11.549 million in March. The number of jobs that need to be filled is nearly double the number of people who are looking for work.
HOME SELLERS IN HOT MARKETS ARE DROPPING PRICES AS DEMAND WANES
MANUFACTURING: Watch for the ISM’s manufacturing purchasing managers index for May. It’s expected to slip nearly a point, the third straight monthly drop, to 54.5.
SALESFORCE: The software company increased its full-year adjusted profit forecast on strong demand as companies look to improve efficiencies. Shares of the company traded 8% higher in the after-hours session.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| CRM | SALESFORCE INC. | 298.12 | +3.34 | +1.13% |
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EARNINGS PARADE: The earnings docket includes Capri Holdings, Hovnanian and Vera Bradley reporting before the market open and Chewy, GameStop, Hewlett-Packard Enterprise, NetApp and PVH Corp delivering results after the bell.