Dow futures climb over 200 points ahead of private-sector jobs reportPublished: March 3, 2021 at 7:49 a.m. ET
By 
Mark DeCambre
 6park.com

0 6park.com
 6park.com


Dow set to rise Wednesday
 KENA BETANCUR/AFP/GETTY IMAGES 6park.com
Email iconFacebook iconTwitter iconLinkedin iconFlipboard iconPrint ic0nresize icon 6park.com
Referenced Symbols
YM00
+0.34% 
YMH21
+0.34% 
ES00
+0.23% 
ESH21
+0.23% 
NQ00
+0.22% 
NQH21
+0.22% 
LVS
+3.01% 
OSCR

000300
+1.92% 
DJIA
-0.46% 
SPX
-0.81% 
COMP
-1.69% 
MRK
+0.65% 
JNJ
-0.19% 
 6park.com
U.S. stock futures rose early Wednesday, recovering from a pullback Tuesday, ahead of February private-sector employment data that will provide some clues on the state of the economic rebound from the COVID-19 pandemic as the coronavirus vaccine rollout accelerates.
How are stock benchmarks performing?
Futures for the Dow Jones Industrial Average YM00, +0.34% YMH21, +0.34% to 206 points, or 0.7%, to reach 31,564.S&P 500 index futures ES00, +0.23% ESH21, +0.23% were climbing 20.90 points at 3,888.50, a rise of 0.5%.Nasdaq-100 futures NQ00, +0.22% NQH21, +0.22% advanced 81.75 points, or 0.6%, to 13,137.
On Tuesday, the Dow DJIA, -0.46% fell 143.99 points, or 0.5%, to 31,391.52, the S&P 500 SPX, -0.81% slid 31.53 points, or 0.8%, to 3,870.29, while the Nasdaq Composite Index COMP, -1.69% dropped 230.04 points, or 1.7%, to 13,358.79. 6park.com
What’s driving the market?
Some of the market’s upbeat tone to start was tied to President Joe Biden’s announcement late Tuesday that the U.S. would have enough COVID-19 vaccines for all Americans adults by the end of May, as he announced that the White House brokered a partnership between Merck & Co. MRK, +0.65%, and Johnson & Johnson JNJ, -0.19% to distribute J&J’s one-dose vaccination.
The Wall Street Journal reports that the seven-day average of COVID-19 vaccine doses administered in the U.S. recently hit 1.8 million a day, based on analysis of Centers for Disease Control and Prevention data. More than 50 million Americans have received at least one dose of a vaccine, representing about 15.3% of the population, according to the CDC. Meanwhile, the U.S. has averaged 65,468 cases a day in the past week, down 19% from two weeks ago.
However, Texas and Mississippi said that would they end mask mandates and reopen businesses, despite recommendations for caution from public-health professionals, including the CDC, which has warned against complacency.
Separately, a further round of COVID aid was being hashed over by Washington lawmakers, with Democrats negotiating the terms of Biden’s $1.9 trillion relief package which will add the deluge of government bond issuance.
Moves in the bond market have been at the center of investors’ anxieties over the course of the past two weeks, with attention trained on moves in the benchmark 10-year Treasury rate holding at around 1.44%-1.45%.
Federal Reserve Gov. Lael Brainard on Tuesday said that she wasn’t concerned about the move in yields, which have weighed on stocks because they imply higher borrowing costs for corporations and individuals, but she did note that she was “paying close attention to market developments.”
Brainard said that the economy could see a burst in inflation but said that any such rise would be transitory and due to bottlenecks of supply against a surge in demand as the economy attempts to normalize from social-distancing protocols.
Looking ahead, investors will be paying attention more data on the health of the labor market. Private-payroll data for February from ADP from are due at 8:15 a.m. Eastern. Economists polled by Dow Jones expect 225,000 private jobs were added in on the month, compared with 174,000 in the previous month. That jobs data come ahead of the more closely followed nonfarm-payrolls report due to roll out on Friday from the U.S. Labor Department.