Futures Pointing To Continued Weakness On Wall Street

(RTTNews) - Stocks may come under pressure in early trading on Wednesday, extending the pullback seen in the previous session. The major index futures are currently pointing to a lower open for the markets, with the Dow futures down by 46 points.

Disappointing jobs data may weigh on the markets, as payroll processor ADP released a report showing a continued slowdown in the pace of private sector job growth in the month of March.

ADP said private sector employment climbed by 189,000 jobs in March following a slightly upwardly revised increase of 214,000 jobs in February.

Economists had expected an increase of about 230,000 jobs compared to the addition of 212,000 jobs originally reported for the previous month.

With the continued slowdown, the pace of private sector job growth came in below 200,000 for the first time since January of last year.

Not long after the open, trading could be impacted by the release of a separate report from the Institute for Supply Management on national manufacturing activity.

Economists expect the ISM's manufacturing index to edge down to 52.5 in March from 52.9 in February, indicating a modest slowdown in the pace of growth in the sector.

The Commerce Department is also due to release its report on construction spending in February, with spending expected to dip by 0.1 percent.