Stock Futures Pare Gains on Weak Jobs Data

By MarketsFOXBusiness

FOX Business: Capitalism Lives Here

A disappointing report on U.S. private-sector employment yanked stock-index futures from session highs on Wednesday.

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Today's Markets

As of 8:19 a.m. ET, Dow Jones Industrial Average futures climbed 10 points, or 0.05%, to 16390, S&P 500 futures rose 1.3 points, or 0.08%, to 1873 and Nasdaq 100 futures advanced 4.5 points, or 0.12%, to 3721.

With America and Russia set to hold diplomatic talks over Ukraine, tumult in Eastern Europe is falling off Wall Street's radar. That means traders will once again begin focusing their attention back to the American economy.

A report from payroll processor ADP showed private-sector employment increased by 139,000 jobs in February, significantly below the 160,000 jobs expected. The labor market, and many other sectors of the economy, has taken a hit recently due to unseasonably bad weather that has swept across the U.S. The data come out ahead of the all-important monthly jobs report on Friday.

Later, at 10:00 a.m. ET, the Institute for Supply Management publishes its gauge of service-sector activity. The purchasing-managers index is forecast to have slipped to 53.5 in February from 54 the month prior.

U.S. equity markets sold off on Monday amid Ukraine tension, and then rallied to record highs on Tuesday as those worries faded.

Elsewhere, U.S. crude oil futures fell 30 cents, or 0.29%, to $103.03 a barrel. Wholesale New York Harbor gasoline jumped 1% to $2.79 a gallon. Gold slumped $2, or 0.15%, to $1,336 a troy ounce.

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