US private sector added +568,000 jobs in September, ADP report shows
Payroll processing group ADP released its National Employment Report, which revealed that U.S. private sector added +568,000 jobs in September, well above the Street consensus forecast of +428,000.
It is the biggest increase in employment since June.
The service sector added +466,000 jobs in September, led by + 226,000 jobs in the leisure and hospitality sector. Goods producers added +102,000 jobs, the strongest gain in a year. Manufacturing added + 49,000 jobs. Construction added +46,000 jobs, the most since last September.
Large companies added +390,000 jobs in September. Medium-sized companies added +115,000 jobs while small companies added +63,000.
Nela Richardson, chief economist of ADP , indicated that small businesses are lagging in hiring because they find it hard to compete with larger firms on compensation.
Momentum Indicator for SPY turns positive, indicating new upward trend
SPY saw its Momentum Indicator move above the 0 level on May 25, 2023. This is an indication that the stock could be shifting in to a new upward move. Traders may want to consider buying the stock or buying call options. Tickeron's A.I.dvisor looked at 67 similar instances where the indicator turned positive. In of the 67 cases, the stock moved higher in the following days. The odds of a move higher are at .
Technical Analysis (Indicators)
Bullish Trend Analysis
The Moving Average Convergence Divergence (MACD) for SPY just turned positive on May 26, 2023. Looking at past instances where SPY's MACD turned positive, the stock continued to rise in of 49 cases over the following month. The odds of a continued upward trend are .
Following a 3-day Advance, the price is estimated to grow further. Considering data from situations where SPY advanced for three days, in of 361 cases, the price rose further within the following month. The odds of a continued upward trend are .
The Aroon Indicator entered an Uptrend today. In of 425 cases where SPY Aroon's Indicator entered an Uptrend, the price rose further within the following month. The odds of a continued Uptrend are .
Bearish Trend Analysis
The Stochastic Oscillator has been in the overbought zone for 2 days. Expect a price pull-back in the near future.
Following a 3-day decline, the stock is projected to fall further. Considering past instances where SPY declined for three days, the price rose further in of 62 cases within the following month. The odds of a continued downward trend are .
SPY broke above its upper Bollinger Band on May 18, 2023. This could be a sign that the stock is set to drop as the stock moves back below the upper band and toward the middle band. You may want to consider selling the stock or exploring put options.
Fundamental Analysis (Ratings)
Notable companies
Industry description
Market Cap
High and low price notable news
Volume
Fundamental Analysis Ratings
The average fundamental analysis ratings, where 1 is best and 100 is worst, are as follows
General Information
Category LargeBlend
| 1 Day | |||
|---|---|---|---|
| ETFs / NAME | Price $ | Chg $ | Chg % |
| SURE | 89.55 | 2.43 | +2.79% |
| AdvisorShares Insider Advantage ETF | |||
| EWY | 65.12 | 1.36 | +2.13% |
| iShares MSCI South Korea ETF | |||
| CBLS | 20.32 | 0.26 | +1.30% |
| Changebridge Capital Long/Short Eq ETF | |||
| METV | 10.05 | 0.02 | +0.20% |
| Roundhill Ball Metaverse ETF | |||
| HDGE | 24.13 | -0.93 | -3.71% |
| AdvisorShares Ranger Equity Bear ETF | |||
SPY and
Correlation & Price change
A.I.dvisor indicates that over the last year, SPY has been closely correlated with IVV. These tickers have moved in lockstep 100% of the time. This A.I.-generated data suggests there is a high statistical probability that if SPY jumps, then IVV could also see price increases.
| Ticker / NAME | Correlation To SPY | 1D Price Change % | ||
|---|---|---|---|---|
| SPY | 100% | +1.45% | ||
| IVV - SPY | 100% Closely correlated | +1.44% | ||
| SPLG - SPY | 100% Closely correlated | +1.45% | ||
| VOO - SPY | 100% Closely correlated | +1.46% | ||
| SPTM - SPY | 100% Closely correlated | +1.62% | ||
| SCHX - SPY | 100% Closely correlated | +1.51% | ||
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