United States stock futures were largely unchanged on Wednesday as investors awaited the November ADP employment report, due before the market opens. A stronger-than-expected reading could reinforce expectations of a potential Federal Reserve rate cut in December, a development that would likely add momentum to the recent market rally. Traders are also watching PMI data, industrial production figures, and earnings results from Macy’s and Salesforce scheduled for later in the day.
At 4:16 am ET, the Dow Jones futures were up 0.16%, while the Nasdaq 100 and S&P 500 futures were flat. In currency markets, the euro traded 0.15% higher against the US dollar at 1.16422 as of 4:27 am ET.
Meanwhile, in the United Kingdom, private-sector activity lost pace in November. S&P Global’s final PMI Composite Output Index dropped to 51.2 from October’s 52.2, signaling slower growth across services and manufacturing.
More updates to follow.
