ADP +77K, Far Lower than Expected; Tariff News Forthcoming?

Group 1: Tariff Policy Impact - The stock market has been significantly affected by tariff policies discussed by President Trump, with market indexes declining between 2.5% to 5% over the past five days due to the potential imposition of tariffs of 20% or 25% on major trading partners [1] - Commerce Secretary Howard Lutnick indicated that the White House may consider reducing tariffs based on compliance with the U.S. MCA trade policy, particularly affecting domestic automakers [3] Group 2: Employment Data - The ADP private-sector payrolls report showed an increase of only 77,000 jobs in February, which is about half of the expected 148,000 and the lowest since July of the previous year [4] - Goods-producing jobs increased by 42,000, outperforming the services sector, which added only 36,000 jobs [5] - Small firms lost 12,000 positions, while large companies gained 37,000 and medium-sized businesses added 46,000 jobs, with the Leisure & Hospitality sector leading job growth [6] Group 3: Wage Growth Metrics - Job Stayers experienced an average wage increase of 4.7% year-over-year, while Job Changers saw a 6.7% increase, indicating a slight decrease from the previous month [7] Group 4: Upcoming Economic Reports - Anticipated economic reports include the final S&P Services PMI for February, expected to approach the growth threshold, and Factory Orders for January, which are projected to show a positive swing after a previous decline [8]