{"id":66125,"date":"2023-02-01T08:54:03","date_gmt":"2023-02-01T13:54:03","guid":{"rendered":"https:\/\/blog.t3live.com\/?p=66125"},"modified":"2023-02-01T08:54:03","modified_gmt":"2023-02-01T13:54:03","slug":"coffee-with-greta-traders-wait-for-the-fed","status":"publish","type":"post","link":"https:\/\/blog.t3live.com\/2023\/02\/01\/coffee-with-greta-traders-wait-for-the-fed\/","title":{"rendered":"Coffee With Greta: Traders Wait For The Fed"},"content":{"rendered":"

DJIA Futures: <\/b>-136 (-0.4%)<\/span><\/p>\n

SPX Futures: <\/b>-9 (-0.2%)<\/span><\/p>\n

NASDAQ Futures: <\/b>-7 (-0.1%)<\/span><\/p>\n

Good morning friends!<\/span><\/p>\n

Futures are lower as traders wait for the Fed.<\/span><\/p>\n

Let\u2019s get right to it!<\/span><\/p>\n

Private Job Growth Slows Sharply<\/span><\/h2>\n

Private sector job growth slowed more than expected at the beginning of 2023.\u00a0<\/span><\/p>\n

Payroll firm ADP reported U.S. private employers added 106,000 jobs in January.\u00a0<\/span><\/p>\n

That was lower than economists\u2019 expectations for 190,000 and down from 253,000 in December.<\/span><\/p>\n

The hospitality industry continued to see the largest gains, adding 95,000 workers.\u00a0<\/span><\/p>\n

Financial activities sector added 30,000, manufacturing added 23,000, and education and health services added 12,000.\u00a0<\/span><\/p>\n

But the trade, transportation, and utilities sector lost 41,000 jobs, construction lost 24,000, and natural resources and mining fell by 3,000.\u00a0<\/span><\/p>\n

Pay rose 7.3% year over year, relatively unchanged from December.\u00a0<\/span><\/p>\n

But ADP\u2019s chief economist said severe weather impacted the numbers and job growth may not have been as weak as this report indicates.\u00a0<\/span><\/p>\n

The Fed has been looking for the labor market to weaken as it hikes interest rates to slow inflation.\u00a0<\/span><\/p>\n

Today\u2019s data comes ahead of the official January jobs report on Friday which is expected to show the U.S. economy added 187,000 jobs and the unemployment rate ticked higher to 3.6%.<\/span><\/p>\n

AMD Tops Q4 Estimates<\/span><\/h2>\n

Advanced Micro Devices <\/b>(AMD) shares are\u00a0 up 3.2% ahead of the open after beating Q4 expectations on the top and bottom line.\u00a0<\/span><\/p>\n

Here\u2019s how the chipmaker\u2019s results compared to analysts\u2019 estimates:\u00a0<\/span><\/p>\n