US markets claw back ground as jobs grow
MARKETS in the United States have clawed back a bit of the ground from their earlier losses overnight, after the release of a private sector report showing faster-than-expected jobs growth.
Figures from the ADP Research Institute show 215,000 private sector jobs were added to the US economy in December, which is the biggest increase since last February.
On average, economists were expecting a rise of 140,000.
The good result has fuelled optimism about tomorrow's official payrolls report from the US Labor Department.
At the start of the trading session, stocks were being sold off quite heavily, as investors took profits from yesterday's big rally.
Read more at ABC news online.