US STOCKS-Futures lower as investors await economic data
* 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. Continuación...