S&P 500, Nasdaq fall after ADP jobs data; Trump attacks Powell

• Stock market wobbles after weak ADP report
• Nasdaq, SP 500 futures show instability
• Cryptocurrencies Bitcoin and Ether operate without major fluctuations

U.S. stock futures started Wednesday with mixed results as investors weighed new data from ADP that showed significantly weaker-than-expected growth in private-sector hiring. The impact of the report comes on top of rising trade tensions between the U.S. and China, which include new steel tariffs.

SP 500 futures contracts registered a slight increase of 0,1%, while the Dow Jones Industrial Average remained practically stable. Meanwhile, the Nasdaq 100 futures fluctuated close to the stability line, reflecting uncertainty mainly among technology companies.

The optimism of the past two days in the stock market was put to the test after the release of the ADP National Employment Report. The figures showed that private sector job creation plunged to 37 positions in May, the worst result in more than two years. Market expectations were much higher, which caused concern about the strength of the labor market.

In response, former President Donald Trump again criticized Federal Reserve Chairman Jerome Powell.

THE ADP NUMBER WAS TOO MUCH!!! “Too late” Powell needs to CUT THE RATE. He is unbelievable!!! Europe cut it NINE TIMES!

Meanwhile, in the cryptocurrency market, Bitcoin is trading at around $105.006, virtually stable on the day. Ethereum, in turn, is registering a slight appreciation of 0,5%, quoted at $2.618,99, remaining in line with the recovery seen in recent days, although without enough strength for a clear upward trend.