The Dow Jones Industrial Average
|Dow Jones Industrial Average||+124.80[-0.95%]||13,074.75|
Yesterday the market fell after the Federal Reserve released minutes from its March meeting suggesting that there wouldn't be another round of quantitative easing. That was still on investors' minds at 8:15 ET this morning, when ADP released its employment report. The payroll company reported that private employment numbers rose 209,000 in March, below February's 230,000 gain. More jobs data is on the way: Weekly jobless claims come out tomorrow morning, and the March unemployment rate and nonfarm payrolls are reported on Friday.
The other news from this morning has the potential to reignite fears over Europe. Spain had a weaker-than-expected bond offering this morning, with the yield on Spain's five-year debt rising to 4.45%. The country had intended to auction 3.5 billion euros of debt but sold only 2.6 billion euros' worth. Spain has some serious problems in its economy, including a sky-high unemployment rate and a large fiscal deficit. Fool analyst John Maxfield has been eyeing Spain for some time and on Monday took a deep look at the situation in Spain.
Today's top Dow stock was Merck
Bank of America
The best approach
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Dan Dzombak owns shares of holds no other position in any company mentioned. Like his Facebook page to follow his investing articles. The Motley Fool owns shares of Bank of America. Motley Fool newsletter services have recommended buying shares of Automatic Data Processing. The Motley Fool has a disclosure policy. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. Try any of our Foolish newsletter services free for 30 days.