Feb. 4 at 9:17 PM
Meanwhile, ADP on Wednesday released its monthly look at private payroll growth for January, which showed an increase of just 22,000 on the month. That’s below the gain of 45,000 jobs that economists polled by Dow Jones had forecast.
The release generally precedes the Bureau of Labor Statistics report on nonfarm payrolls, but that won’t be out this week due to the partial government shutdown. The shutdown, which began Saturday, officially ended Tuesday, when President Donald Trump signed a funding bill into law.
On Tuesday, the major averages sold off as investors gravitated out of riskier growth names and toward cyclical stocks like Walmart
. Nvidia
and Microsoft
each lost almost 3% in the previous session. Big-name AI infrastructure names Broadcom, Oracle and Micron also closed in the red. The tech sector was the worst performer in the S&P 500, down more than 2%.
$SPX $TNX $NVDA $WMT