Private Payrolls Grow More Than Expectation in January

Group 1: Employment Data - The ADP Jobs Report revealed an addition of +183K new private-sector jobs in January, surpassing the expected +150K [2] - Customer-facing jobs outperformed goods-producing jobs, with Trade/Transportation/Utilities adding +56K positions, Leisure & Hospitality +54K, and Education/Healthcare +20K [3] - Manufacturing saw a loss of -13K positions, while wage gains for Job Stayers were +4.7% and for Job Changers +6.8%, indicating a stable labor market without significant inflationary pressure [4] Group 2: Trade Deficit - The U.S. Trade Deficit for December reached -$98.4 billion, worse than the estimated -$96.8 billion and significantly deeper than the previous month's -$78.9 billion [5] - Imports decreased by -2.6$1.76 per share, exceeding the anticipated $1.44, marking an earnings beat of +22.22$24.69 billion, slightly above expectations, and the stock rose +1.5% following the announcement [6] Group 4: Market Expectations - Upcoming reports include final S&P Services PMI and ISM Services for January, both expected to remain above the growth-contraction threshold of 50, aligning with the strength indicated in the ADP report [7] - Qualcomm is expected to report fiscal Q1 earnings with anticipated gains of +6.55% and revenues increasing by +9.9% year-over-year, currently holding a Zacks Rank 2 (Buy) [8]