Stock futures rise as traders wait for report on private-sector employment
The ADP report will be the first of three job-related reports this week
CFRA Chief Investment Strategist Sam Stovall discusses economic recovery amid coronavirus and the sectors that are moving higher as investors actively await a turnaround.
U.S. equity futures are pointing to gains for a fourth day as Wall Street waits for the first of this week's job-related reports.
The major futures indexes are indicating a gain of 0.8 percent when trading begins on Wednesday.
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The ADP report on private sector hiring will be released before the opening bell, the first of three major job-related reports coming out this week.
Private-sector employment for May is expected to plunge by 9 million, an improvement from the record 20.236 million jobs lost in April.
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The report on weekly jobless claims will be released on Thursday and the monthly employment report for May will be released by the government on Friday.
In Asian markets on Wednesday, Japan's benchmark Nikkei gained 1.3 percent, Hong Kong's Hang Seng was up 1.4 percent and China's Shanghai Composite added 0.1 percent.
In Europe, London's FTSE added 1.3 percent, Germany's DAX gained 2.4 percent and France's CAC rose 2 percent.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| I:DJI | DOW JONES AVERAGES | 44782 | -128.65 | -0.29% |
| SP500 | S&P 500 | 6047.15 | +14.77 | +0.24% |
| I:COMP | NASDAQ COMPOSITE INDEX | 19403.947849 | +185.78 | +0.97% |
On Wall Street, the S&P 500 closed 0.8 percent higher, the Dow Jones Industrial Average rose 1.1 percent and the Nasdaq composite added 0.6 percent.
Benchmark U.S. crude added 2 cents to $36.82 a barrel. It rose $1.37 to $36.81 a barrel on Tuesday. Brent crude oil for August delivery was down 27 cents to $39.35 a barrel.
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Investors will also have their eye on a couple of companies set to go public this week. Music company Warner Music Group is set to hold its IPO on Wednesday, while business information services company ZoomInfo Technologies is scheduled to go public on Thursday.
The Associated Press contributed to this article.