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US stock index futures pointed to a lower open on Wednesday, as caution arose following the first diagnosis of a patient in the United States with Ebola.
While drug companies with Ebola treatments in their pipelines rallied in heavy trading, the news gave investors a reason to sell, with major indexes near record levels. Airline shares were lower on concerns the disease could curb travel.
In a positive read on the economy, a report early Wednesday showed private employers added 2.13 lakh jobs in September, more than expected, though August's number was revised down by 2,000 jobs. The stronger-than-expected September data could raise expectations for the closely watched non-farm payroll report, which will be released on Friday.
The S&P 500 has largely traded in a range for the past six weeks, finding resistance at its record close and support at its 50-day moving average. While the benchmark index closed slightly below that average on Tuesday, it hasn't closed beneath it for two consecutive sessions since August. At current levels, the S&P is almost 2 per cent from its record close.
After the market opens, reports on construction spending and manufacturing will be released. Construction spending is seen up 0.5 per cent in August, while the Institute for Supply Management's read on September manufacturing is expected to dip to 58.5 from 59.
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