US STOCKS-Futures point to lower open after ADP report

miércoles 1 de abril de 2015 08:39 GYT

* S&P 500, Nasdaq coming off 9th quarterly rise

* ADP data misses expectations, raising payroll concerns

* Futures down: Dow 60 pts, S&P 8 pts, Nasdaq 14.5 pt (Updates trading, adds data, analyst comment)

By Ryan Vlastelica

NEW YORK, April 1 (Reuters) - U.S. stock index futures pointed to a lower open on Wednesday as a weaker-than-expected report on private sector employment raised concerns that Friday's impending jobs report could also point to worsening conditions in the labor market.

The ADP National Employment Report showed that U.S. private employers added 189,000 jobs last month, well below economists' expectations for 225,000 jobs. The report was the weakest since January 2014.

The private employment reading precedes Friday's jobs data, the most widely watched indicator of the week, though that arrives on Good Friday when the stock market will be closed. The inability of market participants to trade off that report could generate some volatility going into the holiday.

"The correlation between ADP and the payroll report isn't terribly strong, but given the size of the miss, this could cause investors to pause and reassess the landscape," said David Lebovitz, global market strategist for J.P. Morgan Asset Management in New York.

Data due through the week will be studied for indications on whether economic growth is brisk enough to spur the U.S. Federal Reserve to begin raising interest rates sooner than expected. The Fed has said it would start raising rates when it deems the economy strong enough to withstand the impact; many analysts believe the first hike will come in September.   Continuación...