S&P 500 Futures Fall 0.27% on Weak ADP Jobs Data

U.S. stock futures slipped at the open of July 1, with September S&P 500 E-mini contracts down 0.27% as investors digested softer-than-expected jobs data and cautious Fed commentary. On June 30, the cash S&P 500 closed 0.2% lower and the Nasdaq fell 0.6% after the ADP report showed only 98,000 private-sector jobs added in June versus forecasts near 118,000. Markets also priced a 33.7% chance of a 25-basis-point rate hike later this month following Fed Chair Kevin Warsh’s remarks, while WTI crude dropped more than 1% and the 10-year Treasury yield eased to 4.47%.