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US Stocks Seen Opening Unchanged As Data Points Slightly Miss Views

U.S. stocks were expected to open flat Wednesday as payroll and non-farm productivity data fell short of expectations. Markets will be closely watching the European Central Bank's meeting Thursday for more specificity about possible quantitative easing.

The ADP private payrolls increased 208,000 in November but missed the 225,000 gain expected. The October payroll increase was revised upwards to 233,000 from 230,000. The consensus range for November was between 205,000 and 240,000, according to data compiled by Econoday.

Other data out Wednesday included non-farm business productivity, which rose 2.3% in Q3 over Q2 compared to the 2.4% estimate. The consensus range for Q3 was between a 1.8% and a 2.9% gain. Unit labor costs fell 1% in Q3 compared to the expected 0.1% decline.

Meanwhile, at 10:00 a.m. E.T., the ISM non-manufacturing index is expected to have edged higher to 57.3 in November from 57.1 in October. The consensus range is between 54.4 and 58.5.

In equities, retailer Abercrombie & Fitch ( ANF ) recovered from an earlier decline in the wake of cutting its fiscal 2015 guidance. Most recently it was higher 1.2%. G-III Apparel Group ( GIII ), which makes apparel, luggage and women's handbags, rose 4.4% as Q3 results beat estimates and as it raised its guidance.

U.S. PRE-MARKET INDICATORS

-Dow Jones Industrial down 0.02%

-S&P 500 futures down 0.01%

-Nasdaq 100 futures down 0.01%

-Nasdaq-100 Pre-Market Indicator up 0.08%

GLOBAL SENTIMENT

Nikkei up 0.32%

Hang Seng down 0.95%

Shanghai Composite up 1.49%

FTSE-100 down 0.28%

DAX-30 up 0.27%

PRE-MARKET SECTOR WATCH

(+/-) Large cap tech: mixed

(+) Chip stocks: unchanged to higher

(-) Software stocks: unchanged to lower

(+/-) Hardware stocks: mixed

(+/-) Internet stocks: mixed

(+/-) Drug stocks: mixed

(+/-) Financial stocks: mixed

(+/-) Retail stocks: mixed

(+/-) Industrial stocks: mixed

(+/-) Airlines: mixed

(+/-) Autos: mixed

UPSIDE MOVERS

(+) MOLG (+29.8%) Shareholder says stock is undervalued

(+) SQNM (+33.8%) ILMN to pay $50 million to co related to patent infringement agreement

(+) JD (+1.6%) Forms crowd-funding partnership with Grameen China

(+) AZN (+1.1%) US FDA accepts new drug application for non-small cell lung cancer drug

(+) IDRA (+4.2%) Cancer regimen shows anti-tumor activity in preclinical models

(+) JKS (+1.1%) To supply 21.4 MW of solar modules to India project

(+) NNA (+3.6%) Launches $50 million share buyback program

(+) LOCO (+3.2%) Morgan Stanley upgrades to equal-weight vs underweight

(+) WAG (+0.8%) Q1 sales top views

DOWNSIDE MOVERS

(-) TASR (-3.6%) JP Morgan downgrades stock to neutral vs overweight

(-) JCP (-5.4%) Goldman Sachs downgrades stock to sell vs neutral

(-) PBYI (-17.3%) Delays new drug application for breast cancer drug until 2016

(-) CDW (-3.2%) To sell 15 million shares at 3.2% discount

(-) MPLX (-4.2%) To sell 3 million units

(-) CANF (-3.5%) To sell $8 million ADSs in direct offering

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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