US stocks look to rebound

By CNN Business

Updated 4:49 p.m. ET, September 1, 2021
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8:57 a.m. ET, September 1, 2021

ADP jobs numbers disappoint again

From CNN Business' Anneken Tappe

It's jobs week and the show kicked off with the ADP Employment Report, which sharply underperformed expectations for a second month in a row.

According to ADP, the US economy added 374,000 private sector jobs in August, compared with analyst expectations of 613,000. That's a huge miss.

Job gains were concentrated in mid-sized and large business, as well as in the leisure and hospitably industry.

ADP Chief Economist Nela Richardson said on a call with reporters that the August numbers are pointing to a slowing pace in the jobs recovery, even though she still believes hiring will be strong in the second half of the year.

A year and a half into the pandemic, this is a reminder that it's still really hard for economists to forecast how this new economy will function with all of its gummed up cogs. It might also inject some skepticism into the consensus forecast for the government jobs report Friday, for which analysts are predicting 750,000 jobs.

The ADP and government reports are not correlated, but with the private payroll numbers coming out first, they could serve as a barometer for how the rest of the week might go.

6:28 a.m. ET, September 1, 2021

US stocks hope to rebound

Stock futures were looking to rebound Wednesday.

US stocks fell Tuesday on a mostly quiet day for the markets. But stocks enjoyed solid increases in August, including a seventh consecutive monthly gain for the S&P 500. 

Here's where things stand as of 6 am ET:

  • Dow futures rose 100 points or 0.3%
  • S&P 500 futures rose 0.3%.
  • Nasdaq futures were 0.3% higher.

6:26 a.m. ET, September 1, 2021

Google pushes its return to the office back to 2022

From CNN Business' Rishi Iyengar

Google has yet again postponed a full return to the office, announcing that its employees can continue to work remotely until next year. The decision follows similar ones already made by the company's tech industry peers like Facebook and Amazon.

Google (GOOGL) workers around the world will not be required to return to their offices until at least Jan. 10, 2022, CEO Sundar Pichai said in a note to employees on Tuesday. (The policy only applies to Google and not its parent company Alphabet, a company spokesperson said).

Read more here.