ADP Reports 20,000 Jobs Lost (USO, ADP)
By Benzinga Staff
March 03, 2010 8:54 AM
March 03, 2010 8:54 AM
Employment numbers released this morning by ADP (NASDAQ: ADP) report private sector job losses of 20,000 in February. This was the lowest reported jobs loss since 22,000 jobs were added in January of 2008.
Following this news, Dow Jones Industrial futures were down 2 percent, Treasury prices fell, and the dollar continued its slide versus the euro.
Despite the release of this data, oil futures remained high. United States Oil Fund (NYSE: USO) is up $0.24 in pre-market trading to $39.04, continuing its February climb.
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