December ADP Blows Away Estimates

The December ADP employment report was just released and it nearly tripled expectations. Expectations were for a rise of 100,000 and the results came in at 297,000, which is a staggering number. The service sector hired 270,000 people in the month. Futures are skyrocketing on this news, having significantly paired losses. At last check, Dow futures were off 34 points, the NASDAQ was off 5.25 points and the S&P 500 futures were lower by 4 points.