ADP August private jobs add 38K, lowest since January

TREE NEWS reports: ADP reported August private payrolls rose by just 38,000, well below market expectations of 47,000-48,000 and the lowest since January. The miss initially boosted rate-cut bets, but a hawkish tone from New York Fed’s Williams later reversed sentiment. Small-cap Russell 2000 swung from a 1.2% intraday loss to close up 1.13% at 2,953.