US Futures Barely Dip as November Employment Tops Expectations; Waiting For Data

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US stock futures were slightly lower Wednesday as the market waited for a flurry of data that might give the U.S. Federal Reserve the basis it needs to start tapering its $85-billion-a-month asset purchasing program earlier than currently seen in March.

At 8:15 am this morning the ADP National Employment Report showed that 215,000 private sector jobs were created in November, beating the 178,000 estimate. Also, October payrolls were revised upwards by 54,000 to 184,000.

Also out early today was the U.S. October trade deficit, which widened to $40.6 billion compared to the $40.2 billion consensus. The September trade deficit was revised upwards to $43.0 billion from $41.8 billion.

Among other data on the docket today are the Institute for Supply Management November non-manufacturing index, out at 10:00 a.m., expected to be down slightly at 55.00 from 55.4, and new home sales numbers from the Commerce Department for September and October. Home sales are seen up 2.1% in October.

In equities, J.C. Penney ( JCP ) slipped nearly 2% in pre-market trade, having earlier made gains after saying yesterday that same store sales rose 10% in November. Hewlett-Packard ( HPQ ) also rose, by 1.64% to a new 52-week high of $27.95, after BBC reported the company will cut 1,100 jobs in the U.K.

U.S. PRE-MARKET INDICATORS

-Dow Jones Industrial down 0.09%

-S&P 500 futures down 0.19%

-Nasdaq 100 futures down 0.09%

-Nasdaq-100 Pre-Market Indicator down 0.09%

GLOBAL SENTIMENT

Nikkei down 2.17%

Hang Seng down 0.76%

Shanghai Composite up 1.31%

FTSE-100 down 0.57%

DAX-30 down 1.05%

PRE-MARKET SECTOR WATCH

(+/-) Large cap tech: mixed

(+/-) Chip stocks: flat

(-) Software stocks: lower

(+/-) Hardware stocks: mixed

(+/-) Internet stocks: mixed

(+/-) Drug stocks: unchanged

(-) Financial stocks: lower

(-) Retail stocks: lower

(-) Industrial stocks: lower

(+/-) Airlines: unchanged

(+/-) Autos: mixed

UPSIDE MOVERS

(+) OMED (+13.54%) Initiates phase 3 pancreatic cancer trial

(+) ABIO (+14.59%) Gets FDA ok for Gencaro to treat atrial fibrillation

(+) OCLS (+157.51%) Gets FDA approval for scar management gel

DOWNSIDE MOVERS

(-) EXPR (-19.50%) Q3 EPS and Q4 EPS guidance shy of views

(-) GFI (-2.64%) Q3 profit drops

(-) ACMP (-4.61%) Prices 6-mln public unit sale at $51.45



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

Copyright (C) 2014 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.


This article appears in: Investing , Commodities

Referenced Stocks: HPQ , JCP

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