Although markets will see the release of a number of first-tier data on Wednesday, trading may be muted as investors await huge economic events later in the week.
Investors and traders are sitting on their hands as they wait for a highly-anticipated monetary policy announcement from the European Central Bank on Thursday and U.S. employment numbers on Friday.
The ECB is widely expected to cut interest rates, and could announce other stimulus measures, to prevent low inflation from derailing the fitful Eurozone economic recovery.
On Friday, the U.S. jobs report for May is coming out, giving a picture about the state of the employment market in the world`s biggest economy.
U.S. stock futures were slightly lower amid quiet trading ahead of opening, and ahead of data on U.S. private employment and services activity.
-Futures on the Dow Jones Industrial Average fell 0.16% to 16687
-Futures on the S&P 500 Index fell 0.18% to 1918.50
-Futures on the NASDAQ 100 fell 0.23% to 3722.00 . As of 06:00 a.m. ET
Investors are keeping an eye on a G7 meeting in Brussels. President Obama and other world leaders will discuss the crisis in Ukraine, among other issues, when they meet later Wednesday. Russia has been excluded from the talks for the first time in years over its annexation of Crimea.
The ADP May jobs report will come out at 8:15 a.m. ET and the U.S. government will publish its monthly trade balance at 8:30 a.m. At 2 p.m., the Federal Reserve will release its Beige Book, which provides details about the economy at the regional level.
The Institute for Supply Management will release a report on services activity in May. The ISM non-manufacturing index is seem at 55.5 in May, up from 55.2 the month before.
On the earnings front, Brown-Forman, the maker of Jack Daniel`s whiskey, will report quarterly earnings before the opening bell. The stock is among the top 10% of S&P 500 companies this year and its earnings results could help propel the stock higher, or bring it back down to earth.