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ADP Report: Private Payrolls Rise 63,000 in February, Beating Estimates but Revealing Narrow Job Growth

The ADP National Employment Report released Wednesday showed U.S. private employers added 63,000 jobs in February, topping consensus estimates of 50,000 and improving from a downwardly revised 11,000 in January. However, gains were concentrated almost entirely in construction and education and health services, with professional and business services shedding 30,000 positions, raising questions about underlying labor market breadth ahead of Friday's official nonfarm payrolls report.

ISM Manufacturing PMI Holds at 52.4% in February, But Input Price Surge Raises Fed Rate-Cut Doubts

The Institute for Supply Management reported that U.S. manufacturing activity expanded for the second consecutive month in February, with the PMI reading at 52.4 percent, but the report's input prices sub-index soared at its fastest pace since 2022, reinforcing investor concerns that renewed inflationary pressures — now compounded by surging oil prices from the Iran conflict — could lead the Federal Reserve to delay or abandon interest rate cuts in the months ahead.

Medtronic Posts Strongest Revenue Growth in Ten Quarters, Reiterates Full-Year Outlook

Medtronic reported third-quarter fiscal 2026 revenue of $9.02 billion, an 8.7% year-over-year increase representing the company's highest enterprise revenue growth in ten quarters, beating analyst estimates of $8.89 billion. Non-GAAP diluted EPS of $1.36 beat consensus by three cents, and the medical device giant reiterated full-year organic revenue growth guidance of approximately 5.5% despite a projected $185 million tariff headwind.