U.S. stock futures edged lower after June ADP employment data fell short of expectations with 98,000 private-sector jobs added.
Dow Jones industrial average futures declined modestly early Wednesday as investors awaited key jobs data. The ADP Employment Report showed private-sector payrolls rose by 98,000 in June, below the consensus forecast of 150,000.
The softer-than-expected print follows May’s revised gain of 152,000 and marks the slowest pace of job growth in three months. Initial jobless claims data, due later in the session, may provide further insight into labor market trends.
Early movers included Bloom Energy (BE), Nike (NKE), and SpaceX (SPCX), which saw pre-market activity ahead of the broader market open.