Wall Street eyes jobs data, GoDaddy IPO

U.S. stock index futures indicated a lower open on Wednesday, as investors digested the ADP private sector payroll report, and awaited a key manufacturing survey that will likely show that the harsh winter weather has continued to hit growth.

Futures were little changed after the ADP employment report for March showed an increase of 189,000 in monthly private payrolls, below expectations of a modest rise to around 225,000.

The U.S. 10-year Treasury yield continued to edge lower to 1.89 percent. The U.S. dollar traded slightly lower as the euro gained mildly to just below $1.08.

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The report will be followed by the latest manufacturing ISM for the same month, at 10 a.m. Construction spending data for February are also due at 10.00 a.m.

Wednesday's employment data is a preview for the labor market report on Friday, the data highlight of the week, with expectations for another increase in nonfarm payrolls, of around 250,000 in March. The unemployment rate is seen unchanged, at a more-than-six and a half-year low of 5.5 percent.

In an encouraging sign that the housing market is picking up with the onset of spring, weekly mortgage application volume increased 4.6 percent on a seasonally adjusted basis, the Mortgage Bankers Association (MBA) said.

A McDonald's restaurant with a "now hiring" sign, in Sarasota, Fla.
Scott Mlyn | CNBC
A McDonald's restaurant with a "now hiring" sign, in Sarasota, Fla.

Investors are also preparing for a shorter week due to the Easter vacation; stock markets are also for Good Friday this week and bond markets close early.

GoDaddy announced late on Tuesday that its initial public offering will price at $20 per share, valuing the company about $4.5 billion. They are expected to begin trading on April 1, under the symbol "GDDY."

European traded higher on Wednesday as fresh economic reports continued to show growth in the euro zone.

U.S. stocks closed lower on Tuesday, giving back most of Monday's major gains, as investors eyed mixed economic data and the end of the first quarter.

Oil futures edged lower on Wednesday, as talks between Iran and six world powers were extended, with hopes that a last-minute deal over Iran's nuclear program would be reached. This could allow more Iranian crude oil to trade on world markets.

Brent crude traded just above $55 a barrel on Wednesday, while U.S. crude for May delivery was lower at $47.37 a barrel.

Amazon has unveiled a WiFi connected device called a "Dash Button," allowing consumers to order products from brands like Dash, Huggies, and Gillette merely by pressing the button. The offer is only open to Prime members who receive an email invitation.

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Simon Property withdrew its buyout offer of $95.50 a share for Macerich after the rival mall operator's board decided not to hold discussions on the offer.

CNBC's Peter Schacknow contributed to this report.