US stock index futures generally stabilize, with economic data showing mixed results.

US stock index futures were generally stable, with investors waiting for more data on the US labor market amidst the backdrop of the trade war initiated by Trump. At 8:26 New York time, S&P 500 index and Dow futures were basically flat, while Nasdaq 100 index futures dropped by 0.1%. The S&P 500 index had achieved consecutive gains for the first time since mid-May. The MSCI global stock index hit a record high, benefiting from the rise of European and Asian stock markets. US bonds rose, while the US dollar fell. The latest ADP data showed that the pace of hiring by US companies slowed to its lowest level in two years. Although some economists worry that tariff pressure may lead to significant weakness in the US job market in the coming months, the current data shows mixed results. Investors will focus on the service industry data to be released later on Wednesday for the latest information on the strength of the US economy. The non-farm employment report will be released on Friday. According to data compiled by Piper Sandler & Co., the expected volatility of the S&P 500 index on Friday is estimated to be plus or minus 0.9%. This implied volatility is the lowest since February before the release of non-farm data.