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Market Snapshot: U.S. stock futures hold steady after ADP report

U.S. stock futures inched modestly lower on Wednesday, following a report of monthly private-sector employment that came in line, if not slightly better than, Wall Street expectations, potentially adding more reasons for the Federal Reserve to follow through with talk of lifting interest rates.

The U.S. economy added 177,000 private-sector jobs in August, compared with average estimates from economists polled by The Wall Street Journal of about 180,000. However, the prior month’s private-payroll report was raised to 194,000 from 179,000.

The ADP data have arguably worked as a precursor for the more closely watched nonfarm-payrolls report out on Friday, but it hasn’t always been an accurate gauge of NFP.

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