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STABILIZING

U.S. stock index futures were flat to slightly higher on Wednesday, stabilizing after the S&P 500 .SPX and Nasdaq .IXIC suffered their biggest daily percentage drop since October 10 as concerns over lofty valuations and the potential for a market pullback sparked risk-off sentiment.

On the economic front, the ADP National Employment Report showed private employment increased by 42,000 jobs last month after an upwardly revised decline of 29,000 in September, topping the estimate of economists polled by Reuters that forecast a 28,000 rise after a previously reported drop of 32,000 in September.

With earnings season still in high gear, McDonald's MCD.N was up 2% before the opening bell after topping sales estimates. Results will come after the closing bell from the likes of Robinhood HOOD.O, which has surged nearly 270% this year, Qualcomm QCOM.O, Allstate ALL.N and MetLife MET.N.

Elsewhere, the U.S. Treasury Department said it expects to keep its nominal coupon and floating rate note auction sizes steady for at least the next several quarters, but is beginning to consider future increases.

Below is your premarket snapshot:

(Chuck Mikolajczak)

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EARLIER ON LIVE MARKETS:

AI: GOING ROUND IN CIRCLES? CLICK HERE

BUY THE DIP AND CARRY ON: RETAIL STICKS TO THE SCRIPT CLICK HERE

MAYBE WE ARE TOO OPTIMISTIC ABOUT INFLATION CLICK HERE

TECH JITTERS KEEP STOXX SUBDUED, RARE RALLY IN COPENHAGEN CLICK HERE

BEFORE THE BELL: MORE PROFIT-TAKING IN TECH, NOVO SLIDES CLICK HERE

PYROTECHNICS IN STOCKS AND US ELECTIONS CLICK HERE