US STOCKS-Wall St to open flat after ADP; factory orders due

miércoles 2 de abril de 2014 09:05 GYT
 

* ADP employment slightly below estimate, prior month revised up

* Factory orders data on tap

* MannKind shares soar as diabetes drug gets FDA backing

* Futures up: Dow 11 pts, S&P 0.5 pt, Nasdaq up 3.75 pts (Adds ADP data, updates prices)

By Chuck Mikolajczak

NEW YORK, April 2 (Reuters) - U.S. stocks were set for a flat open on Wednesday, indicating the S&P 500 will hold near its record high reached in the prior session, after data on the labor market was slightly below expectations.

* U.S. private employers added 191,000 workers in March, slightly below the 195,000 forecast, while gains in the prior month were revised higher to 178,000 from the previously reported 139,000, signaling the dampening effects of harsh winter weather on job growth may be fading.

* Later in the session at 10:00 a.m. (1400 GMT), the factory orders report for February is due. Investors will be looking for signs of growth after the previous month's decline of 0.7 percent was attributed to a harsh winter. Analysts polled expect an increase of 1.2 percent.

* Shares of MannKind Corp nearly doubled in price, soaring 88.3 percent to $7.57 in premarket trading Wednesday. U.S. health advisers Tuesday recommended approval of the company's inhaled diabetes drug.   Continuación...