The pace of job growth in the private sector accelerated in November, with U.S. employers adding 206,000 jobs, a report by a payrolls processor showed on Wednesday.
BORIS SCHLOSSBERG, DIRECTOR OF FX RESEARCH, GFT, JERSEY CITY, NEW JERSEY
It's (ADP) a great number. What this suggests is that the U.S. recovery is much more stable than initially thought and combine that with the global monetary easing that major central banks did today, and we have an environment that's positive for risk.
WILLIAM LARKIN, PORTFOLIO MANAGER WITH CABOT MONEY MANAGEMENT IN SALEM, MASS
The ADP is a pretty good number, but it will put a lot of weight on Friday's data, especially coming off of yesterday's consumer confidence number. However this news puts us on the path of stronger equities.
The more global coordination, the less tail risk there is. A lot of people are putting more risk on today and taking off their safety trades. We're planning on doing that here. It looks like this move (in futures) is sustainable. If the monthly employment number comes in place, it's hard to see us not break out of the range we've been in.
WAYNE KAUFMAN, CHIEF MARKET ANALYST AT JOHN THOMAS FINANCIAL IN NEW YORK
All terrific news for short-term traders. You can't fight the Fed, and now that we're in a global economy, you can't fight the global central banks. They are pushing liquidity. The upside is bigger than the downside. There is tremendous stress out there so doing something in a concerted effort to relieve some of the stress is a good thing.
ADP news is very good news. The private sector is adding jobs. China reducing reserve ratios is also very good. Governments around the world are acting in concert to relieve the strains on the system. Stocks are very undervalued based on comparing equity yields versus bond yields, which shows the stress of the financial system. Under normal circumstances, stocks would be a lot higher.