NEW YORK (Reuters) - U.S. private employers added far more jobs than expected in June, bouncing back from a surprise slump the month before, a report by a payrolls processor showed on Thursday.
Private-sector payroll growth improved to 157,000 jobs in June, according to ADP.
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PETER KENNY, MANAGING DIRECTOR AT KNIGHT EQUITY MARKETS IN JERSEY CITY, NEW JERSEY:
"A lot better than expected and better in the right place: manufacturing. That is precisely the kind of number the market needs in order to bolster confidence that our soft is brief and behind us. It is an important number, it's definitely the type of green light the market is looking for to move higher.
"It certainly will confirm the move higher that we've seen because we've run into some near-term resistance here as evidenced by yesterday's action and this could give us the fuel to move beyond resistance. That would be very constructive."
GUY LEBAS, CHIEF FIXED INCOME STRATEGIST, JANNEY MONTGOMERY SCOTT, PHILADELPHIA
"The ADP results certainly put a bit of an optimistic spin on Friday's payroll survey."
MARKET REACTION: STOCKS: U.S. stock index futures added to gains BONDS: U.S. bond prices extended losses FOREX: The dollar extended gains against the yen