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Multiple data points are set for release this week, with the
personal consumption expenditures price index due on Thursday
and non-farm payrolls on Friday.
Before that, the ADP National Employment report is scheduled for
release at 8:15 a.m. and the second estimate for the
second-quarter gross domestic product (GDP) is due 15 minutes
later.
"Data is king right now in terms of market sentiment," said
Susannah Streeter, head of money and markets at Hargreaves
Lansdown in a note.
"A raft of other figures will be picked through today to see if
the information backs up expectations that central bank
policymakers will leave rates unchanged."
Those hopes got a fillip on Tuesday after data releases,
especially one showing a drop in monthly job openings, and along
with gains in mega-cap stocks, helped Wall Street end sharply
higher.
However, rising 10-year Treasury yield, last up at 4.14%,
dragged on growth stocks on Wednesday, with Tesla's 1.3% drop
leading the declines before the bell.
Further weighing on sentiment, China defended its business
practices after U.S. Commerce Secretary Gina Raimondo said
American firms had told her it had become "uninvestible."
U.S.-listed shares of Chinese companies including PDD Holdings,
JD.com, Baidu and Alibaba fell between 1.5% and 2.4%.
At 5:24 a.m. ET, Dow e-minis were down 9 points, or 0.03%, S&P
500 e-minis were down 7.5 points, or 0.17%, and Nasdaq 100
e-minis were down 42 points, or 0.27%.
Shares of HP Inc slid 8.5% premarket as the personal computer
maker trimmed its annual forecast due to slowing demand.
Rite Aid dropped 8.1% after S&P Global Ratings downgraded the
drug retailer due to increased risk from restructuring.
(Reporting by Shristi Achar A in Bengaluru; Editing by Savio
D'Souza)
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