Wall Street is off to an uncertain start after some mixed US jobs data and continuing confusion about what the EU actually proposes to do about the Eurozone debt crisis, specifically of course, Greece.
Following predictions of a 30 point or so rise, the Dow Jones Industrial Average is down around 20 points in the first fifteen minutes or so of trading, unlike other global markets which have rallied on hopes there is indeed a concerted European plan to solve the Greek problem. The Dow, to be fair, had already mounted its own rally on Tuesday night as talk of a plan emerged from the European Commission, so a bit of profit taking is perhaps justified.
Meanwhile the latest ADP report showed a 91,000 rise in US private sector employment, up from the 75,000 consensus. Earlier came a report from consultants Challenger, Gray & Christmas, Inc showing that employers announced last month they planned to cut 115,730 jobs, more than double August's total of 51,114. This is the highest level for two years.
The key jobs report however is the non-farm payroll number on Friday. Later on Wednesday come US services sector figures.
Meanwhile the FTSE 100 is still sharply higher, up 108.08 at 5052.52, while German and French markets are up around 3% each.
