January 06, 2014- Stocks Look to a Caution Ahead of US Economic Data

Wall Street has resigned itself to being cautious, as reflected by the trading in the U.S. index futures, which are pointing to a nearly flat opening on Monday. Earlier in the global trading day, Asian stocks closed lower across the board, although South Korea was an exception, while the European markets are trading on a mixed note. Sentiment going into the session may also depend on a domestic non-manufacturing data. With some key labor market statistics due for the week, traders may prefer to adopt a "wait and watch attitude." The Dow futures are rising 19 points, the S&P 500 futures are adding 1.75 points and the Nasdaq 100 futures are little changed. U.S. stocks retreated in the first trading week of the year that ended on January 3rd, as profit taking pressured stocks that have run up significantly over most of 2013. On the economic front, the job market is expected to take the spotlight in the unfolding week, as Main Street prepares to receive 3 key jobs data during the week. The focus of the week is likely to be on ADP's private sector employment report for December, the weekly jobless claims data and the Labor Department's monthly non-farm payrolls report for December.