Wall Street Likely To Open Marginally Higher

Marginally higher U.S. futures point to a slightly positive start on Wall Street Wednesday morning. The data on private sector employment, due ahead of the opening bell, is likely to set the mood.

The report from payroll processor ADP is due at 8:15 AM ET. ADP’s report last month showed private sector employment in the U.S. increased by less than expected in the month of October, climbing by 113,000 jobs, after rising by 89,000 jobs in September. Economists had expected employment to jump by 150,000 jobs.

Data on Labor Productivity for the third quarter, a report on U.S. exports in the month of October, are due at 8:30 AM ET. Trade data for the month of October is due as well at 8:30 AM ET.

The Energy Information Administration’s report on crude inventory for the week ended December 1 is due out at 10:30 AM ET.

U.S. stocks ended mixed on Tuesday after a lackluster session. After recovering from an initial move to the downside, stocks showed a lack of direction over the course of the trading session.

While the tech-heavy Nasdaq rose 44.42 points or 0.3 percent to 14,229.91, the S&P 500 edged down 2.60 points or 0.1 percent to 4,567.18 and the Dow dipped 79.88 points or 0.2 percent to 36,124.56.

Asian stocks ended higher on Wednesday as bond yields dropped amid increased bets for a peak in global interest rates.

The major European markets are up in positive territory around noon today with investors digesting the latest batch of economic data from the region, and looking ahead to crucial jobs data from the U.S.

West Texas Intermediate crude oil futures are down $0.56 or 0.79 percent at $71.76 a barrel. Gold futures are gaining $3.50 or 0.17 percent at $2,039.80 an ounce.

In the currency market, the dollar is edging up after exhibiting weakness in the Asian session. Against the Euro, the dollar is up at 1.0778, and against the Japanese currency, it is trading at 147.30 yen, gaining marginally.

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