U.S. stocks were poised for a flat open on Wednesday after a private-sector employment report showed an improvement from October but fell shy of forecasts.
U.S. private employers shed 169,000 jobs in November, fewer than the 195,000 in October, but worse than forecasts for a decline of 155,000 jobs, according to the ADP National Employment private sector survey .
You always take the ADP with a grain of salt. It's not always right on. said Frank Lesh, futures analyst and broker at FuturePath Trading LLC in Chicago.
(But) It wasn't that far off, and it's still an improvement.
Also on tap for Wednesday is the Federal Reserve periodic Beige Book survey of regional U.S. economic conditions.
S&P 500 futures shed 1.2 points and were slightly below fair value, a formula that evaluates pricing by taking into account interest rates, dividends and time to expiration on the contract. Dow Jones industrial average futures dipped 12 points, while Nasdaq 100 futures dipped 1.50 points.
SunTrust Banks Inc
U.S. crude futures fell nearly 1 percent to below $77.69 per barrel after industry data showed a surprise build in U.S. crude stocks, raising doubts over demand recovery.
General Motors Co's
(Reporting by Chuck Mikolajczak; editing by Jeffrey Benkoe)