Stock futures trade cautiously ahead of labor data

University of Maryland economist Peter Morici, Payne Capital Management senior wealth adviser Courtney Dominguez and Belpointe chief strategist David Nelson provide insight into the U.S. economy, housing and today’s markets. 

U.S. equity futures turned negative ahead of the Wednesday trading session on Wall Street.

The major futures indexes suggest a decline of 0.3% ahead of the release of the week’s first labor-related report.

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The payroll processing firm ADP’s National Employment report for June will be release Wednesday morning.

Economists are looking for a gain of 600,000 private-sector jobs, almost 400,000 below May’s much larger-than-expected increase of 978,000, which marked the biggest addition since June 2020.

The biggest data release this week will be Friday’s U.S. jobs report for June. Economists expect it to show American employers created 675,000 more jobs than they cut, with the…

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