On Wednesday morning, ADP will release its reading on private payroll growth for February. Economists expect private payrolls grew by 185K in February, down from the 246K we saw in January. This report comes two days ahead of the BLS’ official release of the U.S. jobs report on Friday morning, which is expected to show nonfarm payrolls grew by 190K while the unemployment rate fell to 4.7% in February.
Elsewhere in economic data on Wednesday, we’ll get an update on labor productivity in the fourth quarter and a reading on import prices in February.
Earnings in focus are expected to include Bob Evans (BOBE) and Valspar (VAL).
Investors will also continue to monitor the political haggling breaking out after House Republicans released a draft of an Obamacare replacement, called the American Health Care Act, which was widely panned by conservatives for, among other reasons, not being a full repeal of the Affordable Care Act.
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