A report released by payroll processor ADP on Wednesday showed private sector employment in the U.S. increased by slightly less than expected in the month of November.
ADP said private sector employment climbed by 146,000 jobs in November after jumping by a downwardly revised 184,000 jobs in October.
Economists had expected private sector employment to grow by 165,000 jobs compared to the surge of 233,000 jobs originally reported for the previous month.
At 10 am ET, the Institute for Supply Management is scheduled to release its report on service sector activity in the month of November.
The ISM’s services PMI is expected to edge down to 55.5 in November from 56.0 in October, but a reading above 50 would still indicate growth.
The Commerce Department is also due to release its report on new orders for manufactured goods in the month of October at 10 am ET. Factory orders are expected to rise by 0.2 percent in October after falling by 0.5 percent in September.
At 10:30 am ET, the Energy Information Administration is scheduled to release its report on oil inventories in the week ended November 29th. Crude oil inventories are expected to dip by 1.0 million barrels after decreasing by 1.8 million barrels in the previous week.
Federal Reserve Chair Jerome Powell is due to participate in a moderated discussion before the New York Times DealBook Summit at 1:40 pm ET.
At 2 pm ET, the Federal Reserve is scheduled to release its Beige Book, a compilation of anecdotal evidence on economic conditions in each of the twelve Fed districts.