US stock futures were slightly lower Wednesday as the market was
waiting 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 (
) added 0.80% in pre-market trade after saying yesterday that same
store sales rose 10% in November. Hewlett-Packard (
) also rose, by 1.56% to a new 52-week high of $27.93, after BBC
reported the company will cut 1,100 jobs in the U.K.
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