Tomorrow's Headliners: ADP Report

Wednesday's session will feature the July ADP private sector employment report, an important precursor to the government's nonfarm payrolls data.
Author:
Publish date:

NEW YORK (

TheStreet

) -- Wednesday morning will bring the

Automatic Data Processing's

(ADP) - Get Report

private-sector employment report for July, which should give investors who are anxiously waiting Friday's jobs report an indication on how the numbers will shake out.

The ADP's employment report, due for release at 8:15 a.m. EDT Wednesday, is expected to show that the private sector lost 340,000 jobs last month. By comparison, the

Labor Department's

report, due out Friday, is expected to show that the U.S. economy lost 333,000 jobs, according to economists polled by

Reuters

.

Elsewhere on Wednesday's economic docket, the Institute for Supply Management will release the July read on its services index. On Monday, the ISM said its manufacturing index rose to 48.9 in July from 44.6 in June, above the consensus of 46.5 and the highest level in 11 months. The services index, due at 10 a.m. EDT, should rise to 48 from June's reading of 47.

At the same time, the

Commerce Department

will post factory orders data for June. Economists are forecasting a 0.8% decline after a 1.2% rise in May.

Turning to earnings,

Dow Jones Industrial Average

components

Cisco Systems

(CSCO) - Get Report

and

Procter & Gamble

(PG) - Get Report

will report quarterly results.

Cisco, one of the newest members of the Dow, will report after Wednesday's close of trading, with analysts expecting a profit of 29 cents a share on revenue of $8.51 billion, according to Thomson Reuters. P&G will post results ahead of Wednesday's opening bell, and the consensus is for earnings of 79 cents a share on sales of $19.32 billion.

Additionally,

Marsh & McLennan

(MMC) - Get Report

,

Transocean

(RIG) - Get Report

, and

Prudential Financial

(PRU) - Get Report

will also post earnings results on Wednesday.

-- Written by Robert Holmes in New York

.