ADP private payrolls falls flat, Verizon announces acquisition, Nvidia drama
Update: 2024-09-05
Description
Wake the markets up when September ends because stocks (^DJI, ^IXIC, ^GSPC) are still trying to find their footing in the volatile trading month.
Takeaway:
- ADP private payrolls data came well below August expectations, underwhelming with a print of 99,000 compared to the forecast of 145,000 new jobs.
- Verizon (VZ) announces it will acquire Frontier Communications Parent (FYBR) in a $20 billion deal that is scheduled to close in 18 months.
- Nvidia (NVDA) refutes any claims that the chipmaker was subpoenaed by the US Department of Justice (DOJ) on antitrust inquiries, which was originally reported by Bloomberg.
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