[ADP Employment Data May Impact Fed's Confidence in December Rate Cut] Market analyst Giuseppe pointed out that the four-week employment data released by the U.S. Automatic Data Processing (ADP) company as of October 11, 2025, shows an average weekly increase of 14,250 jobs, totaling approximately 57,000 jobs, far exceeding the Dallas Fed's estimated monthly breakeven point of 30,000 jobs. The strong performance of the ADP data may make Federal Reserve Chair Powell more cautious when hinting at a December rate cut, potentially being seen as a hawkish surprise and having a significant impact on the market. Additionally, Federal Reserve Governor Waller has previously expressed support for rate cuts but recently emphasized the need for caution.