Investors Digest Labor Market Data as US Equity Futures Tread Water Pre-Bell

MT Newswires Live01-07

US equity futures were flat ahead of Wednesday's opening bell as traders digested labor market data.

Dow Jones Industrial Average futures were 0.1% higher, S&P 500 futures were flat, and Nasdaq futures were 0.1% lower.

Traders' attention now pivoted toward a set of labor-market indicators after geopolitical developments dominated previous trading sessions.

Oil prices were mixed, with front-month global benchmark North Sea Brent crude little changed at $60.71 per barrel and US West Texas Intermediate crude 0.3% lower at $56.94 per barrel.

The ADP Institute's December employment report, released at 8:15 am ET, showed a 41,000 increase in private payrolls versus estimates compiled by Bloomberg for a 50,000 gain.

The Bureau of Labor Statistics' Job Openings and Labor Turnover Survey, due at 10 am ET, is expected to show job openings of 7.61 million in November versus 7.67 million in the prior month. The Institute for Supply Management's Non-Manufacturing Purchasing Managers' Index is seen coming in at 52.2 for December versus 52.6 previously.

In other world markets, Japan's Nikkei closed 1.1% lower, Hong Kong's Hang Seng ended 0.9% lower, and China's Shanghai Composite finished 0.1% higher. Meanwhile, the UK's FTSE 100 was down 0.6%, and Germany's DAX index was up 0.7% in Europe's early afternoon session.

In equities, Ventyx Biosciences (VTYX) shares were 57% higher pre-bell, a day after The Wall Street Journal reported that the company is in advanced talks to be acquired by Eli Lilly (LLY) for more than $1 billion.

On the losing side, Apogee Enterprises (APOG) stock was down 14% after the company reported lower fiscal Q3 adjusted earnings.

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