LONDON: U.S. stocks were set to rebound on Wednesday, with futures nudging higher ahead of the ADP employment report, which will be closely watched for clues to Friday’s key nonfarm-payrolls number.
Federal Reserve Chairwoman Janet Yellen was also in the spotlight ahead of a panel debate with the head of the International Monetary Fund, Christine Lagarde.
Futures for the Dow Jones Industrial Average YMM5, +0.34% rose 63 points, or 0.4%, to 17,925, while those for the S&P 500 index ESM5, +0.30% climbed 6.25 points, or 0.3%, to 2,090.25. Futures for the Nasdaq 100 index NQM5, +0.09% gained 4.25 points, or 0.1%, to 4,411.75.
The benchmarks closed sharply lower on Tuesday, with the S&P 500 SPX, -1.18% suffering its biggest one-day percentage decline in six weeks. The selloff was partly fueled by a weak trade-deficit report, which showed the U.S. trade gap is at its widest in almost seven years.
