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US Equities Futures Point Higher With ADP Data

U.S. stock futures were solidly in the black Wednesday as data on private payrolls showed slightly more jobs than expected were added to the economy.

The September ADP private payrolls rose to 200,000 versus 186,000 in August and exceeded the expected 190,000. The consensus range was between 180,000 and 220,000. August was revised down from 190,000.

At 9:45 a.m., the Chicago purchasing managers' index is expected to show a slowdown to 53.6 in September from 54.4 in August. The consensus range is between 49.0 and 55.0.

Federal Reserve chair Janet Yellen is speaking at the St. Louis Fed community banking conference at 2:00 p.m. E.T. Earlier this month, the Federal Monetary Policy Committee made no changes to the interest rate partly due to the volatile global economy.

In equities, Western Digital ( WDC ) shares rose nearly 10% before the market opened after saying China's Unisplendour Corporation will invest $3.78 billion in the company at $92.50 per share, a 33.3% premium to Tuesday's closing price.

Meanwhile, Gap ( GPS ) tumbled 6% after Ralph Lauren ( RL ) named the leader of Gap's Old Navy unit as its new CEO, effective in November.

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

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

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