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US futures fluctuate after S&P 500 hits all-time high

U.S. stock index futures wavered in a narrow range Wednesday, following the ADP private-sector job report and a day after the S&P 500's record-close.

U.S. private employers added 191,000 workers in March, according to the ADP National Employment Report. Economists surveyed by Reuters likely showed a gain of 195,000 jobs.

"Bottom line, 191,000 was certainly a rebound from the past two months where job growth averaged 150,000 but 191,000 is little changed from the 2013 average of 187,000 and I think people were hoping for a bigger bounce back," wrote Peter Boockvar, managing director at The Lindsey Group.

The ADP report came ahead of the monthly government jobs report, due Friday. Economists polled by Reuters expect a gain of 197,000 new jobs in March. The U.S. created 175,000 jobs in February, exceeding expectations.

Later in the session, factory orders for February will be reported at 10 am ET. Analysts polled expect an increase of 1.2 percent.

Weekly mortgage applications declined amid lower financing demand, according to the Mortgage Bankers Association.

Internet giant Google will split its stock Wednesday, where shareholders of record ads of Mar. 27 will get two shares for every one they owned. Class A shares will trade under a new ticker symbol "GOOGL" and the other, Class C, will trade under "GOOG." This now means the S&P 500 will technically have 501 components (though it will still have only 500 companies).

General Motors CEO Mary Barra is due for a second day of testimony on Capitol Hill on the automaker's ignition switch recall. Additionally, Reuters reported GM decided in 2005 not to redesign those ignition switch because it would have added about a dollar to the cost of each car.

Amazon.com will be holding a news conference Wednesday, where the online retailer is widely expected to unveil an update to its video business.

Monsanto edged higher after the world's largest seed company posted better-than-expected earnings, thanks to the global expansion of its corn and soybean businesses.

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