On July 3, Automatic Data Processing rose 3.01% in regular trading, trading at $242.8/share, with turnover of $224 million.
On the news front, the previously released U.S. June ADP employment report showed only 98,000 private-sector jobs added, significantly below the market expectation of 118,000 and a notable deceleration from May's 122,000. ADP's chief economist noted that hiring pace reflects a dual slowdown in both supply and demand. Following the data release, U.S. Treasury yields edged lower and the dollar index retreated, fueling expectations of a Fed rate cut and driving broad strength across the human resources sector.
Within the Human Resource & Employment Services sector, the overall sector exhibited broad gains. Among individual stocks, First Advantage Corp. up 6.09%, Paylocity up 3.7%, Paycom up 3.25%, Paychex up 3.18%, Robert Half up 1.82%.
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