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Futures tick up ahead of
data
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[July 02, 2014]
NEW YORK (Reuters) - U.S. stock index futures
ticked up on Wednesday ahead of another busy economic
data session, with the Dow industrials index flirting
with the 17,000 milestone and the S&P 500 less than 1.5
percent from hitting 2,000.
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 * The ADP National Employment Report is due at 8:15 a.m. EDT (1215
GMT) and is expected to show the U.S. private sector created 200,000
jobs last month, up from 179,000 in May. Other data due includes New
York State manufacturing, as well as factory orders and orders for
long-lasting goods. The jobs data will be closely watched a day
ahead of the key government payrolls report.
* The Dow and the S&P 500 closed at record highs on Tuesday as
manufacturing activity picked up in the United States and Asia and
boosted optimism over the health of the global economy.
* S&P 500 e-mini futures were up 2 points and fair value - a formula
that evaluates pricing by taking into account interest rates,
dividends and time to expiration on the contract - indicated a
slightly higher open. Dow Jones industrial average e-mini futures
rose 12 points and Nasdaq 100 e-mini futures added 3 points.
* Rackspace Hosting shares jumped 8.3 percent premarket after
TechCrunch reported the cloud service provider may take itself
private and is in talks with a private equity firm to fund the deal.
* Adding to a recent string of deals that has lifted stocks in the
healthcare sector, Roche said it would pay up to $1.725 billion to
buy Seragon Pharmaceuticals, a privately-held U.S. biotech company
that researches breast cancer treatments.
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* JPMorgan Chase shares will be in focus after Chief Executive
Officer Jamie Dimon said he had been diagnosed with early stage
throat cancer but would remain actively involved in the largest U.S.
bank's business while in treatment.
(Reporting by Rodrigo Campos; Editing by Bernadette Baum)
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