U.S. stock index futures were lower Wednesday despite a better-than-expected ADP jobs report, as investors remained disappointed after the Fed suggested further monetary stimulus was unlikely.
On the economic front, private employers added 209,000 jobs in March , according to the ADP National Employment Report. Economists had expected a gain of 200,000.
The ADP report is seen as a precursor to the government’s monthly employment report, which is due out this Friday.
Non-farm payrolls are expected to show a gain of above 200,000 in March, the fourth-straight month the economy has added more than 200,000 jobs, after an increase of 227,000 in the previous month.
At 10 a.m. the Institute for Supply Management will release its March non-manufacturing index, which tracks the service sector economy. Economists polled by Briefing.com predict the index fell last month to 56.7, down from 57.3 in February.
Weekly mortgage applications rebounded last week, reversing seven straight weeks of declines, thanks to an increase in purchase demand as interest rates slipped, according to the Mortgage Bankers Association.Page 1 of 3 | Next Page