* Futures down: Dow 98 pts, S&P 13 pts, Nasdaq 32 pts
By Tanya Agrawal
May 4 (Reuters) - U.S. stock index futures were sharply lower for the second straight day on Wednesday as investors await a raft of U.S. economic data.
* Lackluster manufacturing data from across the world triggered this week’s selling spree, notably the shrinking of Chinese factory activity for the 14th straight month in April and British output falling to its three-year lows.
* Investors will be keeping an eye on the ADP private sector employment report, which is expected to show private employers added 196,000 jobs in April, after hiring 200,000 workers in March. The report is due at 8:15 a.m. ET (1215 GMT).
* The report is a precursor to the more comprehensive government nonfarm payrolls report, which is expected on Friday. A strengthening labor market is a key factor in the Federal Reserve’s decision on future rate hikes.
* Other reports scheduled for Wednesday include data on U.S. trade deficit, which is expected to have narrowed to $41.5 billion in March from $47.1 billion in February.
* Separately, new orders for manufactured goods are expected to have risen 0.6 percent in March, after having fallen 1.7 percent in February.
* The S&P 500 has jumped 14 percent since mid-February, helped by recovering oil prices and an accommodative Federal Reserve. However, the index has faltered in the past two weeks due to lackluster earnings reports and mixed economic data.
* The Fed, which held monetary policy steady last week, is focusing on data, while keeping the door open for a rate hike in June.
* Federal Reserve Bank of Minneapolis President Neel Kashkari is scheduled to host a Town Hall meeting in Rochester, Minnesota, that may touch on monetary policy and the outlook for the economy. Kashkari is a non-voting member of the Fed’s policy-setting committee this year.
* Shares of Apple, which broke an eight-session losing streak on Tuesday, was down 0.7 percent at $95.18 in premarket trading.
* Priceline fell 10.7 percent to $1210 after reporting quarterly results.
Futures snapshot at 7:13 a.m. ET:
* S&P 500 e-minis were down 13.25 points, or 0.64 percent, with 210,614 contracts traded.
* Nasdaq 100 e-minis were down 31.5 points, or 0.73 percent, on volume of 27,413 contracts.
* Dow e-minis were down 98 points, or 0.55 percent, with 30,624 contracts changing hands.
Reporting by Tanya Agrawal; Editing by Anil D'Silva