US futures dip ahead of data

New York - US stock index futures mostly edged lower on Wednesday as investors refrained from making large bets, with indexes near record levels, ahead of data on the labour market and services sector.

The US bourse is set to open higher as European leaders get ready to meet. Credit: REUTERS

However, the gains have come in anemic trading volume, suggesting the rally lacks conviction.

Analysts expect 218,000 jobs to have been added in May.

Dow Jones industrial average futures rose 4 points and Nasdaq 100 futures lost 4.75 points.

On Tuesday, the SPDR S&P 500 ETF, typically one of the most heavily traded securities on a given day, had one of its most thinly traded sessions of 2014.

The “fear index” remains below 12, well below the historical average of 20, which has some investors concerned the market has become complacent.

Many investors expect bold action by the bank to fight low inflation and high unemployment.