Seeking Alpha

Stock futures slip as ADP data seen supporting Fed taper

  • Stock futures point to a slightly lower open even after data showing private-sector job growth exceeded expectations, as signals of a stable labor market are seen as supportive of additional Fed tapering; S&P -0.1%, Dow -0.2%.
  • European markets are mostly higher, boosted by strong euro zone retail sales data; Asian markets ended mixed, but Japan's Nikkei rallied 1.9%.
  • Treasury prices are lower, with the 10-year yield rising by 5 bps at 2.99%.
  • Micron +11% premarket after its FQ1 earnings and revenue beat estimates.
  • Investors will be parsing the minutes of the Dec. 18 FOMC meeting, to be released at 2 p.m., which should offer more insight into the Fed’s tapering plans.
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