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Private payrolls processor ADP is expected to report that
private firms added more jobs in August than in July. The data,
due at 8:15 a.m. ET, will provide a snapshot of the labor market
ahead of Friday's critical non-farm payrolls data.
Friday's job numbers is the last monthly employment report
before the U.S. Federal Reserve meets on Sept. 16-17, when an
announcement on interest rates is widely expected.
The U.S. central bank has said it will raise rates only when it
sees a sustained recovery in the economy, with a key focus on
labor and inflation.
But the acute market volatility in the last few days has
prompted investors to scale back bets that the Fed will delay
raising rates as early as this month.
Wall Street closed sharply lower on Tuesday, with renewed
concerns about China's economy pushing major indexes down almost
3 percent and intensifying fears of a long-term selloff.
Chinese stocks on Wednesday bounced off from steep losses and
ended almost flat as fresh supportive measures from brokerages
eased investor fears that Beijing may be intensifying a
crackdown on illegal margin financing.
Many Chinese brokerages pledged additional funds to buy shares,
answering government calls to support the stock market.
U.S. factory orders data is expected at 10 a.m. ET. New orders
for manufactured goods are expected to have increased 0.9
percent in July after rising 1.8 percent in June.
Ambarella's <AMBA.O> shares were down 11.5 percent at $79.35
premarket after the maker of chips for wearable and action
cameras gave a third-quarter revenue forecast that largely fell
short of estimates.
(Reporting by Tanya Agrawal in Bengaluru; Editing by Savio
D'Souza)
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