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SNAPSHOT Futures lower after weak private payrolls data


Traders work on the trading floor at the New York Stock Exchange (NYSE) in New York City, U.S., March 31, 2023. REUTERS/Andrew Kelly

U.S. stock index futures were lower on Wednesday after softer-than-expected growth in private payrolls in March exacerbated worries of a steep economic downturn following the Federal Reserve’s rapid interest rate hikes.

The ADP National Employment report showed U.S. private employment rose by 145,000 jobs last month. Economists polled by Reuters had expected an increase of 200,000 jobs in March.

At 8:17 a.m. ET, Dow e-minis were down 25 points, or 0.07%, S&P 500 e-minis were down 6 points, or 0.15%, and Nasdaq 100 e-minis were down 11.75 points, or 0.09%.

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