Stocks Hover Before Important Data

Stock futures are little-changed as investors brace for key economic data.

The first headline will be ADP’s monthly payrolls report at 8:15 a.m. ET, followed by fourth-quarter gross domestic product 15 minutes later. At 2:15 p.m. ET, the Federal Reserve will announce monetary policy.

European indexes have turned negative following earlier gains, while Asian markets were broadly higher in the overnight session. Japan’s Nikkei continued its impressive run with a gain of more than 2 percent, while Shanghai rose 1 percent. Both moves come amid widening optimism toward the global economy.

The S&P 500 closed yesterday at its highest level in more than five years, while the Dow Jones Transports index and the Russell 2000 small-cap index are both at all-time records amid the improved confidence.

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