* Best Buy founder, private equity firms, examine books
* ADP data shows 162,000 private jobs created in September
* Motorola Mobility drops patent complaint against Apple
* Futures up: Dow 12 pts, S&P 1.6 pts, Nasdaq 6.5 pts
(Adds ADP data, comment, updates trading)
By Rodrigo Campos
NEW YORK, Oct 3 (Reuters) - U.S. stocks were set to rise slightly at the open on Wednesday after data showed more jobs were created in the U.S. private sector last month than analysts had expected.
Trading will likely be volatile as a conviction that Spain will eventually request financial aid is offset by concern over a slowing Chinese economy.
Automatic Data Processing said 162,000 private jobs were created in September in the United States, more than the 143,000 expected by analysts, and down from a revised 189,000 in August.
The data was being closely watched ahead of the first of three presidential debates Wednesday night in Denver and a key government payrolls report on Friday.
"This is consistent with a moderate pace of job growth," said Scott Brown, chief economist at Raymond James in St. Petersburg, Florida.
"This is a big enough surprise that it might influence expectations for Friday's payroll report."
S&P 500 futures
were up 1.6 points and slightly above fair value, a formula that evaluates pricing by taking into account interest rates, dividends and time to expiration on the contract. Dow Jones industrial average futures
rose 12 points, and Nasdaq 100 futures
added 6.5 points.
The Institute for Supply Management releases its September gauge on the services sector at 10:00 a.m. ET (1400 GMT). A Reuters survey forecast a reading of 53.2 versus 53.7 in August.
China's services sector weakened in September to its lowest since November 2010, as slow growth in manufacturing was seen feeding through to the rest of the economy.
European equities edged up and the euro steadied against the U.S. dollar, underpinned by a belief that Spain will eventually request financial aid, a step seen by some as required to resolve the euro zone's debt crisis.
Best Buy
shares gained 3.4 percent in premarket trading as founder Richard Schulze and at least four private equity firms started examining its books, in early steps toward what could become an $11 billion buyout.
Shares of Family Dollar Stores
rose 3 percent in premarket trading after the discount chain posted a higher quarterly profit.
Monsanto
shares fell 3 percent in premarket trading after the agribusiness group posted a fourth-quarter loss during a seasonally sluggish sales period.
Google subsidiary Motorola Mobility has dropped a complaint of patent infringement against Apple without explanation.
(Additional reporting by Richard Leong; Editing by Bernadette Baum)
((rodrigo.campos@thomsonreuters.com)(+1.646.223.6344)(Reuters
Messaging: rodrigo.campos.thomsonreuters.com@reuters.net))
((For multimedia versions of Reuters Top News: 3000 Xtra: visit BridgeStation: view story .134 ==============================================================
For running updates on what's moving U.S. stocks:
==============================================================
For other U.S. market data and news, click on codes in brackets:
U.S. Equities speed guide........................
S&P 500 index ........................................
Dow Jones industrial average..........................
Nasdaq Composite index...............................
Nasdaq 100............................................
Thomson Reuters US Index .......................
Russell 2000 small cap................................
S&P major sectors..............................
NYSE most active.....................................
Nasdaq most active...................................
Top NYSE pct gainers.................................
Top NYSE pct losers..................................
Top Nasdaq pct gainers...............................
Top Nasdaq pct losers................................
52 week highs: NYSE............... Nasdaq.............. 52 week lows: NYSE............... Nasdaq..............
Main global stock indexes and market reports:
FTSE Eurotop 300 ..... European report ....... Nikkei 225............. Tokyo report............ FTSE 100............... London report........... Xetra DAX............. Frankfurt market stories CAC-40................. Paris market stories...
World Indices.....................................
Reuters survey of world bourse outlook.........
U.S. IPO diary........................................
U.S. Asset Allocation Table.......................
More Reuters News on equities at a glance:
Equities ............ US company news.........
Key non-equities market reports:
Foreign exchange......................................
Oil....................................................
US Treasuries.........................................
International bonds...................................
Gold.......................................
or
CRB index of commodity futures........................
.)) Keywords: MARKETS USA STOCKS