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6d ago

ADP Hiring Slump Lifts Fed-Cut Bets, Futures Edge Up as Salesforce Slides

A sharp ADP hiring slowdown has pushed market odds of a September Fed cut near certainty.

A trader works on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., September 3, 2025. REUTERS/Jeenah Moon/File Photo
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Overview

  • U.S. stock futures inched higher after ADP reported private payrolls rose by 54,000 in August, missing the roughly 65,000 consensus.
  • Traders priced roughly a 97% chance of a September Federal Reserve rate cut on Thursday, according to CME’s FedWatch Tool.
  • Salesforce shares fell about 7% premarket after a softer third-quarter revenue outlook signaled slower payoff from its AI platform.
  • American Eagle surged nearly 24% following guidance for stronger third-quarter comparable sales and a boost from celebrity campaigns.
  • Investors are watching Broadcom’s earnings after the close and a Senate hearing for Fed nominee Stephen Miran that may influence views on central bank policy.