(Corrects November ADP Payroll figure in second paragraph to revised upwards.)
U.S. stock futures rose Wednesday after a weak start to the year that was compounded by sliding oil prices , helped by better-than-expected payrolls figures and in anticipation of further details from the central bank’s monetary policy meeting three weeks ago.
This morning, the ADP estimate for private payroll growth in December was at 241,000, exceeding the 235,000 consensus and within the consensus range between 205,000 and 310,000, according to data compiled by Econoday. In November the ADP payroll growth was revised upwards to 227,000 from 208,000.
Later Wednesday, at 2:00 p.m., the Federal Open Market Committee releases minutes from its Dec. 16-17 meeting, giving further clues to the economic policy makers’ views on the economy.
In equities, JC Penney ( JCP ) surged 20% after saying Q4 comparable store sales are expected to come in at the top end of its guidance range for 2% to 4% growth after a better than expected holiday season. Meanwhile, semiconductor device maker Micron Technology ( MU ) slipped 2% after giving a Q2 revenue guidance range below analysts’ consensus.