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.
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