Stocks are hovering in a range again today as the expected deluge of economic news gets underway.
S&P 500 futures have been weakening in the last hour and are up less than 0.2 percent, while most European indexes are back in negative territory after trying to rally earlier in the morning. Asia was also weak in the overnight session, led by a 1.4 percent decline in Tokyo. It marked Japan’s third straight losing month, following a big rally between November and May.
Investors await ADP’s private-sector payrolls report at 8:15 a.m. ET and second-quarter gross domestic product data 15 minutes later. The Federal Reserve will also release its monetary-policy statement at 2 p.m. ET, which will be eyed closely for clues about its plans to continue or reduce asset purchases.
— Option Monster