US stocks likely to see a weak opening

FXStreet (Mumbai) - The stock markets in the US are likely to open lower after posting sharp gains in the previous session. The major index futures are trading in the red, indicating nervousness ahead of the Non-farm payrolls report on Friday.

At the time of writing, the DJIA futures traded 0.17% lower at 17,542.50 levels, while the S&P futures traded 0.34% lower at 2035.45 levels. Meanwhile, NASDAQ and Russell futures were up 0.38% and 0.35% at 4200.40 and 1190.30 levels respectively. The VIX futures traded 1.19% higher at 19.08 levels.

The negative action in the index futures is mainly due to renewed sell-off seen in the Crude prices. At the time of writing, WTI Crude traded 3.54% lower at USD 51.17/barrel. Meanwhile, a weak ADP report may also lead to early weakness in the Wall street. The January The ADP report came-in at 213K, missing the expected print of 225K. However, the previous month’s figure was revised upwards to 253K from 241K.

The trading may also get affected from the Institute for Supply Management non-manufacturing index for January due for release later in the day.