Quantcast

Tech Sell-Off Rekindles, Setting Wall Street up For Lower Open


Shutterstock photo

US stock futures were set to open lower on Wednesday as another feeding frenzy in the technology sector permeated other sectors of global financial markets. Exacerbated by year-end profit-taking and fears that a government shutdown could result from political bickering, the risk off trade has driven Dow futures 50 points lower, while the Nasdaq again takes the brunt of today's selling pressure, trading 1.60% lower in premarket trade.

On the economic calendar is November private payroll data from Automated Data Processing, forecasted to show the private sector created 186,000 new jobs.

At 8:30 am ET, Q3 non-farm productivity is expected to be revised to 3.2% from 3.0%, while unit labor costs should be revised down to +0.3% from +0.5%.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Copyright (C) 2016 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.



This article appears in: Investing , Stocks


More from MT Newswires

Subscribe






MT Newswires
Contributor:

MT Newswires

Market News, Commodities








Research Brokers before you trade

Want to trade FX?





Find a Credit Card

Select a credit card product by:
Select an offer:
Search
Data Provided by BankRate.com