U.S. stock futures are slipping early Wednesday after Middle East tensions and the impact of Hurricane Helene set off worries and dragged the major indices in the previous session. These added concerns sapped risk appetite that was on the wane amid the overbought levels of the market, lingering economic uncertainties, and the looming presidential election and third-quarter reporting season. On Wednesday, traders may keep a close eye on ADP’s private payrolls report, often considered a precursor to Friday’s non-farm payrolls report, due ahead of the market open, as well as comments by Federal Reserve officials.
Futures
Performance (+/-)
Nasdaq 100
-0.27%
S&P 500
-0.26%
Dow
-0.35%
R2K
-0.73%
In premarket trading on Wednesday, the SPDR S&P 500 ETF Trust (NYSE:SPY) moved down 0.17% to $567.63 and the Invesco QQQ ETF (NASDAQ:QQQ) slipped 0.16% to $480.48, according to Benzinga Pro data.
Cues From Last Session:
Wall Street pulled back sharply on Tuesday as traders reacted negatively to Iran’s missile attack on Israel, the start of a dockworkers’ strike that would handicap half of the country’s shipping and the impact of Hurricane Helene, which unleashed its fury over the Southeastern states. To make matters worse, the Institute for Supply Management’s manufacturing purchasing managers’ index contracted by more than expected.
On a positive note, job openings came ...
