US Stock Futures Point To Flat Opening
Trading in US stock futures was flat to slightly weak today, as investors turned their focus to progress made by Greece on its financial woes. While futures on the Dow Jones Industrial Average lost 2 points to 10397, those on the S&P 500 slipped 0.1 point to 1117.30. Meanwhile, Nasdaq 100 futures added 0.75 to 1853.
Investors are also awaiting US employment data for February from Automatic Data Processing Inc (NYSE: ADP). The report is closely watched by traders, as service jobs account for more than 80% of non-farm US employment. Moreover, the sector is highly dependent on consumer spending, which accounts for more than two-thirds of all economic activity. The ISM services index for February and planned layoff figures are also expected today.
The overseas markets were mixed today, with investors across the world awaiting details on Greece’s potential austerity plans. The country and other European leaders are expected to announce a detailed bailout and spending plan in the forthcoming days. While the Asian markets saw widespread but modest gains today, shares in Europe were mildly lower. Strength in commodity plays and upbeat economic data helped in driving Australia's benchmark stock index to its highest level in more than five weeks.
Read more from Benzinga's Markets.
