|
 * Lackluster manufacturing data from across the world triggered this
week's selling spree, notably the shrinking of Chinese factory
activity for the 14th straight month in April and British output
falling to its three-year lows.
* Investors will be keeping an eye on the ADP private sector
employment report, which is expected to show private employers added
196,000 jobs in April, after hiring 200,000 workers in March. The
report is due at 8:15 a.m. ET (1215 GMT).
* The report is a precursor to the more comprehensive government
nonfarm payrolls report, which is expected on Friday. A
strengthening labor market is a key factor in the Federal Reserve's
decision on future rate hikes.
* Other reports scheduled for Wednesday include data on U.S. trade
deficit, which is expected to have narrowed to $41.5 billion in
March from $47.1 billion in February.
* Separately, new orders for manufactured goods are expected to have
risen 0.6 percent in March, after having fallen 1.7 percent in
February.
* The S&P 500 has jumped 14 percent since mid-February, helped by
recovering oil prices and an accommodative Federal Reserve. However,
the index has faltered in the past two weeks due to lackluster
earnings reports and mixed economic data.
* The Fed, which held monetary policy steady last week, is focusing
on data, while keeping the door open for a rate hike in June.
* Federal Reserve Bank of Minneapolis President Neel Kashkari is
scheduled to host a Town Hall meeting in Rochester, Minnesota, that
may touch on monetary policy and the outlook for the economy.
Kashkari is a non-voting member of the Fed's policy-setting
committee this year.
[to top of second column] |
* Shares of Apple, which broke an eight-session losing streak on
Tuesday, was down 0.7 percent at $95.18 in premarket trading.
* Priceline fell 10.7 percent to $1210 after reporting quarterly
results.
Futures snapshot at 7:13 a.m. ET:
* S&P 500 e-minis were down 13.25 points, or 0.64 percent, with
210,614 contracts traded.
* Nasdaq 100 e-minis were down 31.5 points, or 0.73 percent, on
volume of 27,413 contracts.
* Dow e-minis were down 98 points, or 0.55 percent, with 30,624
contracts changing hands.
(Reporting by Tanya Agrawal; Editing by Anil D'Silva)
[© 2016 Thomson Reuters. All rights
reserved.] Copyright 2016 Reuters. All rights reserved. This material may not be published,
broadcast, rewritten or redistributed.
 |
