ADP Hiring Miss Slips September Fed Hike Odds

BlockBeats reported on Sept. 2 that U.S. private-sector employment, as measured by ADP, rose by 38,000 in August, the weakest increase since January. The figure came in below the market forecast of 48,000 and compared with a prior reading of 44,000. CME's FedWatch data showed that after the release of the so-called "small nonfarm payrolls" report, the probability of the Federal Reserve holding rates steady in September stood at 37.8%, while the odds of a 25-basis-point hike were 62.2%.