U.S. June Auto Sales May Reach Highest Rate This Year
Investors will be watching the release of U.S. automakers' June auto sales for insight into the resilience of consumers. Economists in a Reuters survey expect annualized sales of 3.33 million cars and 4.00 million trucks. In May, car sales stood at 3.35 million, and truck sales were 4.03 million.
Job Losses drop in June
Automatic Data Processing (ADP) released its June employment report, showing the private sector cut 473,000 jobs, more than expected. Economists in a Reuters survey expected ADP's data to show 393,000 jobs were lost in June, down from a May job loss figure of 532,000.
Investor Confidence rises
The State Street Investor Confidence Index rose 7 points to 115.5 in June, as institutional investors continue to endorse the long-run outlook.
Stock Futures point higher as Oil rises
Stock index futures moved higher on Wednesday as commodity prices rose and investors looked ahead to a private sector employment report expected to show an easing of job losses ahead of the government's June payroll data.
Dow +0.5%. S&P +0.6%. Nasdaq +0.8%. Crude +2.1% to $71.33. Gold +0.45% to $931.60.