U.S. stock indexes set to open lower for labor market

U.S. stock indexes set to open lower for labor market

U.S. stock indexes were set for a lower open Wednesday ahead of the latest look at the health of the labor market.

Dow Jones Industrial Average futures lost 64 points, or 0.18%, while S&P 500 futures and Nasdaq 100 futures lost 0.15% and 0.06% respectively.

ET and is expected to show that the U.S. economy added 653,000 workers last month, down from 692,000 in June.

In stocks, Robinhood Markets Inc. remained in focus a day after soaring past its $38 initial public offering price.

Victoria's Secret Co. shares are also under tight scrutiny after breaking apart from L Brands on Tuesday and soaring 27% in their stock market debut.

In earnings, CVS Health Corp. raised both top and bottom lines and beat its full-year earnings forecast amid signs consumer shopping patterns and use of health benefits normalizing.

General Motors Co. raised a full-year profit and achieved a quarterly forecast as it continued to prioritize high-margin vehicles amid a chip shortage in the global market. GM Financial continued to drive strong demand for used cars, and are setting record earnings for the company.

Profit rating improved 125% from a year ago as ridership continued to rise after pandemic levels. The ride-hailing company says it had 17.14 million riders in the first quarter of 2019, down from 21.2 million in the third quarter of 2020.

Meanwhile, Activision Blizzard Inc. topped its Wall Street estimates and announced the departure of two executive as it looks to improve its culture in the wake of a recent gender neutral suit.

In commodities, West Texas Intermediate crude oil fell 28 cents to $70.28 a barrel and gold edged up $2.50 to $1816.60 an ounce.

Across the board, European bourses rose across the board with Germany's CAC 40 up 0.86%, France's DAX 30 gained 0.59% and the FTSE 100 rose 0.47%.

In Asia, Hong Kong's Hang Seng Index and China's Shanghai Composite advanced 0.88% and 0.85% of commodities, respectively, while Japan's Nikkei 225 lost 0.21%.