U.S. stocks returned to growth after private sector jobs report
In a shutdown, it is one of the few indicators of labor market health
U.S. stock indices jumped on November 5 after a serious drop the day before and a slight sell-off in futures during morning trading. The broad market index S&P 500 added 0.6%, the technology Nasdaq Composite rose 0.9%, and the blue-chip index DJIA gained 0.3%.
Investor sentiment may have been supported by the Automatic Data Processing (ADP) report, which showed renewed growth in US private sector employment last month. It increased by 42,000 people - this was much better than market expectations and a sharp contrast to the decline of 29,000 in September, notes Yahoo Finance. The data is likely to influence Fed policy, the publication said, as U.S. government agencies continue to maintain an "information silence" over the government shutdown, which has now lasted 36 days - the longest in U.S. history.
Also on Wednesday, Nov. 5, the U.S. Supreme Court began hearing a case on the legality of President Donald Trump's imposition of increased duties on imports. It is unknown when the decision will be made, CNBC reports.
This article was AI-translated and verified by a human editor
