Stocks to open higher after ADP jobs report beats estimates

|By:, SA News Editor

Stocks are set for a higher open after the ADP employment report came in better than expected; Dow +0.4%, S&P +0.3%, Nasdaq +0.1%.

But trading is expected to remain restrained amid the upcoming meeting between Pres. Trump and Chinese President Xi, heightened tensions with North Korea, FOMC meeting minutes, and the resurgence of health care reform and the potential impact on tax reform.

European markets are mixed, with U.K.'s FTSE +0.3% and France's CAC +0.1% but Germany's DAX -0.3%; in Asia, Japan's Nikkei closed +0.3% and China's Shanghai Composite ended +1.5% at a YTD closing high.

In corporate news, Apple -0.7% premarket after reports that the company may delay its new iPhone release by a couple of months, while Monsanto +1.6% after beating quarterly earnings and revenue estimates.

U.S. Treasury prices are roughly flat, with the benchmark 10-year yield hovering near unchanged at 2.36%.

U.S. crude oil +1.2% at $51.65/bbl, after the API reported a draw of 1.8M barrels in U.S. crude stockpiles.

Still ahead: PMI services index, ISM non-manufacturing index, EIA petroleum inventories