Private sector employment in the U.S. increased by less than expected in the month of July, according to a report released by payroll processor ADP on Wednesday.
ADP said private sector employment climbed by 122,000 jobs in July after jumping by an upwardly revised 155,000 jobs in June.
Economists had expected private sector employment to increase by 150,000 jobs, matching the job growth originally reported for the previous month.
At 9:45 am ET, MNI Indicators is scheduled to release its report on Chicago-area business activity in the month of July. The Chicago business barometer is expected to dip to 44.5 in July from 47.4 in June, with a reading below 50 indicating contraction.
The National Association of Realtors is due to release its report on pending home sales in the month of June at 10 am ET. Pending home sales are expected to jump by 1.3 percent in June after slumping by 2.1 percent in May.
At 10:30 am ET, the Energy Information Administration is due to release its report on oil inventories in the week ended July 26th.
Crude oil inventories are expected to decrease by 1.6 million barrels after falling by 3.7 million barrels in the previous week.
The Federal Reserve is scheduled to announce its monetary policy decision at 2 pm ET, followed by Fed Chair Jerome Powell’s post-meeting press conference at 2:30 pm ET.