Futures slide on inflation worries; ADP jobs beat sparks taper fears

Published by
Reuters

By Shreyashi Sanyal and Devik Jain (Reuters) -U.S. stock index futures fell on Wednesday after soaring oil prices fed into fears of higher inflation, while a survey showing a strong rise in private jobs last month fueled concerns of sooner-than-expected easing of monetary stimulus. The ADP National Employment Report showed private payrolls increased by 568,000 jobs in September. Economists polled by Reuters had forecast private payrolls would increase by 428,000 jobs. “In short, it looks like the gain in employment will qualify as ‘decent’, which is the threshold Fed Chair Jerome Powell has su…

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