Private-sector payrolls expanded by 198,000 in February, according to today’s ADP Employment Report. That’s down a bit from January’s 215,000 advance. Nonetheless, February’s increase is strong enough to inspire confidence for expecting that Friday’s Labor Department report on payrolls will also profile February as another month of modest growth for jobs creation.
Daily Archives: March 6, 2013
Stocks & Inflation: The End Of An (Abnormal) Affair?
The Dow Jones Industrial Average reached an all-time high yesterday, and the S&P 500 is within shouting distance of a new peak too. But a soaring equity market is no reason to assume that the new abnormal has ended, at least not yet. The positive correlation between the market’s inflation forecast and the stock prices appears a bit looser these days, but it’s premature to declare that the link has been broken.