US Futures Slip On Jitteriness Before The Release Of ADP Employment Data

If the movement of US stock index futures is any indication of how the stock market will open today, you may as well be prepared for a negative movement. While S&P 500 futures lost 0.4% to reach 1130.20, Dow Jones futures slid 0.32% to 10481 and NASDAQ 100 futures were down 0.28% to 1880.25.

Stock market investors are bracing themselves for the US ADP employment data, which forecasts the result of the crucial government nonfarm payrolls report due on Friday. According to Reuters, the ADP employment report may show a sharp decline in job cuts by private employers in December, as compared to November.

Among the factors that could affect the stock market today are the low acceptance of the Kraft (NYSE: KFT) takeover offer by Cadbury (NYSE: CBY) shareholders and a projection by GMAC Financial Services of a loss of about $5 billion for Q4. Moreover, Mosaic Co’s (NYSE: MOS) quarterly earnings have fallen short of expectations, hurt by currency losses.

Japan's Nikkei stock average moved up 0.5% to a 15-month high, while European stocks remained little changed in morning trade as investors awaited the ADP data.

In the commodities market, there was a slight weakness in energy-related commodities. However, the metals sector posted strong gains.