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* Markets are coming off a positive third
quarter with a seventh straight quarterly gain for both the S&P
500 and Nasdaq, but also a decline for major indexes in
September.
* The S&P has largely traded in a range for the past six weeks,
finding resistance at its record close and support at its 50-day
moving average. While the benchmark index closed slightly below
that average on Tuesday, it hasn't closed beneath it for two
consecutive sessions since August.
* Investors are looking ahead to the ADP National Employment
report, which is seen showing 210,000 private-sector jobs added
in September, up from 204,000 in August. That report is due at
8:15 a.m. EDT and will be closely watched for clues into the
strength of the upcoming September jobs report, which will be
released Friday and is coming off a weak read in August.
* After the market opens, reads on construction spending and
manufacturing will be released. Construction spending is seen up
0.5 percent in August, while the Institute for Supply
Management's read on September manufacturing is expected to dip
to 58.5 from 59.
* Overseas issues will stay in focus, including the ongoing
unrest in Hong Kong. While the economic fallout of the protests
is unclear, signs of flagging growth in China have been a
concern for investors and an extended period of strife could add
to those fears.
(Editing by Bernadette Baum)
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