American stock futures stand still
On Wednesday, American futures were almost intact, as market participants stood away from big bets ahead of an employment reading, which could provide hints regarding a more closely watched jobs report due Friday.
S&P 500 futures descended 0.1%, trading at 2,144. Meanwhile, Dow Jones Industrial Average futures dropped 16 points, hitting 18,076. Additionally, Nasdaq-100 futures tumbled 1.50 points, being worth 4,856.
Market participants are waiting for ADP’s monthly private-sector jobs data. It comes just two days before the government’s September news on nonfarm payrolls as well as every release could spur bets on whether the Federal Open Market Committee will increase interest rates soon or not.
Wednesday’s ADP payrolls along with Friday’s nonfarm payrolls might power more FOMC speculation trading.
Even if one side is about to start a big lead in American election polling, December would be an ideal candidate for another rate hike than the November meeting.