ADP national employment data for February shows a gain 475K versus 388K estimate

• Prior month -301K revised to +509K
• ADP national employment rises by 475K vs 388K estimate. The nonfarm payroll estimate to be released on Friday is expected to show a gain of 440 K
• Goods +57K
• Services +417 K
• Small businesses (less than 50 employees) -96K
• Medium (50 – 499 employees) +18K
• Large (>499 employees) +552K

If the numbers don't fit, fix it. That is what the large revision is showing. Recall that last month the NFP report showed a gain of 467K. The revision this month moved from -301K to +509K puts the data more in line with the BLS data.

There is little change in the markets on the data.

• Dow is up 170 points
• NASDAQ NASDAQ The Nasdaq Stock Market or NASDAQ is an American stock exchange. It trails only the New York Stock Exchange (NYSE) in market capitalization and is part of a network of stock markets and options exchanges.Launched back in 1971, NASDAQ is the acronym for the National Association of Securities Dealers Automated Quotations. Since then it is known simply as NASDAQ and has become one of the most influential exchanges worldwide.The NASDAQ was the world’s first electronic stock market, and has since ass The Nasdaq Stock Market or NASDAQ is an American stock exchange. It trails only the New York Stock Exchange (NYSE) in market capitalization and is part of a network of stock markets and options exchanges.Launched back in 1971, NASDAQ is the acronym for the National Association of Securities Dealers Automated Quotations. Since then it is known simply as NASDAQ and has become one of the most influential exchanges worldwide.The NASDAQ was the world’s first electronic stock market, and has since ass Read this Term is trading up 47 points
• S&P is trading up 18 points
• WTI crude oil futures are trading up $8.50 at $111.25 as OPEC+ kept the production increases at +400 K