Investing.com - U.S. futures were mixed on Wednesday as investors wait for economic indicators that a December rate hike could be on the horizon.
The S&P 500 futures fell half a point or 0.02% as of 5:52 AM ET (10:52 GMT) while Dow futures were up one point or 0.01%. Tech heavy Nasdaq 100 futures was down four points or 0.07%.
The medical sector was the biggest winner in pre-market trades. Health care IT firm Medical Transcription Billing Corp (NASDAQ:MTBC) jumped 26.26% while pharmaceutical company Mylan (NASDAQ:MYL) increased 16.20% after it announced the FDA had approved a new drug used for the treatment of patients with relapsing forms of multiple sclerosis. Biopharmaceutical company Synergy Pharmaceuticals Inc (NASDAQ:SGYP) was up 6.8%.
The U.S. arm of Spanish bank Santander (MC:SAN) was among the biggest losers before the start of the bell, falling 2.65% as the Catalan vote for independence continues to rattle Spanish banks. The region is expected to declare its independence in the next few days.
Pharmaceutical company Momenta Pharmaceuticals Inc (NASDAQ:MNTA) also decreased 25.43%.
In economic news, the ISM non-manufacturing PMI is expected to increase to 55.5 in September from 55.3 in August, due at 10AM ET (14:00GMT). The ADP nonfarm employment for September is expected to decrease from 237,000 to 125,000 and is out at 8:15AM ET (12:15GMT). Both are seen as a precursor to Friday’s jobs report.
Investors will also be listening in to Federal Reserve Chair Janet Yellen for any news on whether the Fed will increase the benchmark rate in December. Yellen is due to deliver a speech at a community banking conference hosted by the Federal Reserve Bank of St. Louis at 3:15PM ET (19:15GMT).
European stocks continued to drag on Wednesday. Spain’sIBEX 35 set for its worst day in 14 months with a 2.47% fall as Spanish banks took a heavy hit. The Euro Stoxx 50 was down 0.28% while German’s DAX increased 0.05% after being closed on Tuesday. France’s CAC 40 was also down 0.30%.
Gold futures increased 0.21% while crude oil continued to fall 0.36%. The US dollar index future, which measures the greenback against a basket of six major currencies, decreased to 93.15.