Futures
lower ahead of ADP employment, services data
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[March 04, 2015]
By Chuck Mikolajczak
NEW YORK (Reuters) - U.S. stock index
futures declined on Wednesday, putting the S&P 500 on track for a second
straight decline, ahead of data on the labor market and services sector.
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* The ADP National Employment Report for February is due at 8:15
a.m. and will be eyed for signs of strength in the labor market.
Expectations call for private employers to add 220,000 jobs versus
the 213,000 recorded in January.
* Shortly after the opening bell, two readings on the services
sector are expected with the final February reading of financial
data firm Markit's Purchasing Managers Index at 9:45 a.m.. The
Institute for Supply Management's gauge on the services sector in
February is scheduled for a 10 a.m. release.
* Investors will deal with a flurry of economic data for the rest of
the week, culminating with the Labor Department's February payrolls
report, which will be used to help gauge the timing of an expected
interest rate hike from the U.S. Federal Reserve.
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* Soft auto sales and weakness in technology stocks sent Wall Street
lower in the prior session, pulling the Dow and S&P 500 from record
levels and the Nasdaq below the 5,000 mark.
* Honeywell rose 1 percent to $105.11 in light premarket trade after
the company reaffirmed its first quarter and full-year earnings
guidance as well as its five-year sales and segment margin outlook.
* Bob Evans Farms <BOBE.O> said it was not currently looking at
selling or spinning off its food-products business and was
evaluating strategic options for all or a portion of its real-estate
assets. Shares of the restaurant and packaged food company tumbled
19.8 percent to $47.81 before the opening bell.
* Alcoa fell 2.6 percent to $14.78 in premarket after Bank of
America Merrill Lynch cut the stock to a "neutral" rating.
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* European shares were flat as stocks retreated after a
weaker-than-expected final February Composite Purchasing Managers'
Index reading from Markit.
* Asian shares fell as investors grew cautious before upcoming
central bank meetings and U.S. jobs data as Japan's Nikkei share
average dropped to a one-week low, although China stocks rebounded
in volatile trade.
Futures snapshot at 7:28 a.m.:
* S&P 500 e-minis were down 6.5 points, or 0.31 percent, with
101,693 contracts changing hands.
* Nasdaq 100 e-minis were down 10.75 points, or 0.24 percent, in
volume of 15,189 contracts.
* Dow e-minis were down 47 points, or 0.26 percent, with
15,684 contracts changing hands.
(Reporting by Chuck Mikolajczak; Editing by Chizu Nomiyama)
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