Stock index futures pointed to a higher open on Wall Street on Wednesday, with futures for the S&P 500, the Dow Jones and the Nasdaq 100 rising 0.3 to 0.5 percent.
The Federal Reserve is likely later in the session to show that it is ready to act against a weakening US economy, but stop short of aggressive measures for now.
Automatic Data Processing (ADP) releases its employment report at 1215 GMT (8:00 am EDT).
Economists expect 120,000 jobs were created in July, down from 176,000 in the previous month.
N), the world’s second largest credit and debit card processing network, is expected to post a higher second quarter profit as more people across the globe use cards instead of cash.
The European equivalent showed factories contracting for the 11th straight month while China’s official data showed the sector barely growing.
O) was down 11.2 percent after the bell after the E commerce services provider reported quarterly revenue below analysts’ expectations, citing weak Computer sales, and cut its full year outlook.
Morgan cut its target price on the stock by 35 percent,citing a tough outlook due to high soybean costs.
The Mortgage Bankers Association releases its mortgage market index for the week ended July 27 at 1100.
The mortgage index read 943.6 and the refinancing index was 5,411.6 in the previous week.
N) shares were up 3.9 percent in late trading on Tuesday after the home and auto insurer swung to a profit in the second quarter, smashing recently lowered Wall Street expectations.
The Institute for Supply Management releases its July manufacturing index at 1400 GMT.
FTEU3 rose 0.4 percent, bolstered by a string of strong corporate results, with dealers awaiting the Fed and a European Central Bank meeting which some expect to result in fresh stimulus to support a flagging euro zone.
DJI fell 64.33 points, or 0.49 percent, to 13,008.68 at the close on Tuesday.
Katie Lennard is a business journalist based in Townsville, Australia. Katie has a passion for financial markets and breaking news stories and loves writing about business news, stock market, and economic opinions that matters most to its audience. Katie spends a lot of time discovering and researching latest financial markets and industry news stories in order to make sure the latest and greatest stories are brought to you first on BigBoardNews.com.
