Stock futures are trading lower
Stock futures are trading lo...
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Stock futures are trading lower

5 January 2022
3738
2 min.
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Stock futures are trading lower

Trading on Wednesday

US stock futures are trading lower a day after the Dow Jones climbed to its second record high in 2022.

Major futures indices anticipate a 0.1% decline when Wall Street starts trading on Wednesday.

Traders will be keeping an eye on the first of this week's labour force reports ahead of Friday's December employment report.

Payrolls firm ADP publishes the national employment report for December. Economists expect a gain of 400,000 private sector jobs, up from an increase of 534,000 in November.

Also on the agenda is Markit's final services business activity index for December. A fortnight ago the snapshot figure was 57.5, down slightly from November's 58.0. Investors are also waiting for the minutes of the Federal Reserve's latest December meeting to be released on Wednesday.

Asian indices mostly fell on Wednesday as technology stocks in the region echoed similar declines in Wall Street.

Japan's Nikkei 225 index rose 0.1%, Hong Kong's Hang Seng fell 1.6% and China's Shanghai Composite lost 1.0%.

In Europe, London's FTSE fell less than 0.1%, Germany's DAX added 0.3% and France's CAC added 0.1%.

The S&P 500 fell 0.1% to 4,793.54 in Tuesday's session, while the high-tech composite Nasdaq fell 1.3% to 15,622.72 after a day of choppy trading. The Dow Jones index rose 0.6% to 36,799.65, thanks in part to solid gains from Caterpillar and JPMorgan Chase, which rose 5.4% and 3.8% respectively.

Banks were among the most profitable as bond yields rose, pushing the yield on the 10-year Treasury bond up to 1.65% from 1.63% on Monday night. Friday's yield was 1.51%. When investors sell bonds, their price falls and yields rise.

In energy trading, US benchmark crude fell 7 cents to $76.91 a barrel in electronic trading on the New York Mercantile Exchange. It rose 91 cents to $76.99 a barrel on Tuesday. Brent crude, the international benchmark, was little changed at $80 a barrel.

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