US futures down, ADP report eyed

Futures on major U.S. indices point to a lower opening on Wednesday as investors eye on economic data including ADP national employment report and ISM non-manufacturing index.

Futures on the S&P 500 are down 0.52 percent, futures on the Dow Jones Industrial Average are down 0.41 percent and Nasdaq100 futures are down 0.47 percent.

The ADP report, which is a measure of the monthly change of nonfarm private employment, is due to release at 8:15 am EDT. Economists are estimating private payrolls may rise by 100,000 in December after increasing 93,000 in November.

ISM non-manufacturing index is due to release at 10:00 am EDT, which is expected to show a reading of 55.70 in December compared to 55.0 in November.

Other economic data including MBA Mortgage Applications, Challenger Job Cuts and crude oil inventories are due to release during the day.

The minutes from the last FOMC meeting on Tuesday indicated that the central bank remains committed to low interest rates for the foreseeable future due to the relative weakness of the U.S. economic recovery.

On the corporate front, shares of Family Dollar Stores, Ruby Tuesday and Worthington Industries will be in focus ahead of its quarterly earnings.

On Tuesday, US stocks ended mixed, and traders apparently were unimpressed by some good economic data on factory orders and auto sales, while commodities dropped on likely profit-taking.

The euro declined 0.35 percent to 1.3262 against the dollar and the yen declined 0.01 percent against the greenback.

Crude oil futures declined 0.96 percent to $88.52/barrel and gold futures gained 0.40 percent.

European stock markets are currently trading lower with FTSE 100 down by 13.65 points, DAX30 down by 78.09 points and CAC 40 down by 31.39 points.