Investors will shift their focus to private employment data and earnings announcements Wednesday.
Economists are anticipating that job growth in the U.S. private sector rebounded during the month of December after a disappointing November. The private sector is expected to have added 160,000 positions last month, up from the 67,000 job additions in the previous month, according to Bloomberg-compiled estimates.
Though the ADP report is not always a reliable indicator of what the Bureau of Labor Statistics (BLS) report will illustrate, it does provide a bit of insight into the health of employment in the U.S.
The BLS will release the December jobs report on Friday. Economists polled by Bloomberg are expecting the U.S. economy to have added 160,000 jobs in December, down from the 266,000 positions added in November.
Meanwhile, a few names will be releasing earnings reports Wednesday including Constellation Brands (STZ) and Walgreens Boots Alliance (WBA) before the market open and Bed Bath & Beyond (BBBY) after the market close.
Heidi Chung is a reporter at Yahoo Finance. Follow her on Twitter: @heidi_chung.
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