Market Hustle: Stock Futures Cautious Ahead of U.S. Jobs Report
NEW YORK (The Street) -- Stock futures were flat Wednesday morning after private jobs data beat estimates ahead of monthly payroll figures this week.
Futures for the S&P 500
The ADP private payroll employment showed companies added 238,000 jobs in December, beating expectations for a gain of 205,000 jobs.
Federal Reserve minutes will be scrutinized at 2 p.m. EST for further insight into the central bank's approach to the wind-back of it massive stimulus program. The central bank began to cut its bond purchases in December by $10 billion to $75 billion each month.
The ADP private payroll employment is due at 8:15 a.m. with expectations for a gain of 205,000 jobs in December after 215,000 in November.
Micron Technology (MU) was 9.8% higher in premarket trading after the largest domestic memory chipmaker posted revenue that beat expectations after Tuesday's close. Container Store (TCS) posted third-quarter revenue of $188.3 million late Tuesday, narrowly missing expectations. Its shares shed more than 8% in after-hours trading. Bed Bath & Beyond (BBBY) is expected to announce third-quarter earnings of $1.15 a share after Wednesday's closing bell.
The Hang Seng finished 1.25% higher while Japan's Nikkei jumped 1.94% on Wednesday. Germany's DAX was falling 0.17% while the FTSE was off 0.44%.
U.S. markets closed higher Tuesday, bolstered by stronger than expected trade data.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV