US stock index futures added to losses Wednesday, following a rally that helped push the Dow to its best closing level in more than four years, after the ADP employment report showed a much weaker-than-expected increase in private payrolls in April.
Employers in the private sector added just 119,000 jobs in April, according to the ADP report, short of expectations for 170,000. The report is closely watched ahead of the key monthly government jobs report, due at the end of the week. Economists surveyed by Reuters estimate employers added 170,000 jobs last month, following a tepid 120,000 gain in the month prior.
On the economic front, the Commerce Department releases March factory orders at 10:00am ET. Economists told Reuters they expected a 1.6 percent drop, compared with a 1.3 percent rise in February.
The Dow closed at its highest level in more than four yearson Tuesday after U.S. manufacturing expanded at a faster pace than expected in April, easing jitters about a slowdown in the economic recovery.
Among earnings, Comcast gained after the parent company of CNBC beat earnings and revenue expectations, thanks to continuing growth in Internet subscribers and the start of a turnaround at the NBC broadcast business.
Time Warner said revenue rose 4 percent from the same period last year, but shares of the media conglomerate edged lower after the firm announced impairment chargeskept it from posting higher quarterly earnings.
MasterCard posted earnings that topped Wall Street expectationsas consumers spent more with their cards.