* Best Buy founder, private equity firms, examine books
* ADP data shows 162,000 private jobs created in September
* Motorola Mobility drops patent complaint against Apple
* Futures up: Dow 12 pts, S&P 1.6 pts, Nasdaq 6.5 pts
By Rodrigo Campos
NEW YORK, Oct 3 U.S. stocks were set to rise
slightly at the open on Wednesday after data showed more jobs
were created in the U.S. private sector last month than analysts
Trading will likely be volatile as a conviction that Spain
will eventually request financial aid is offset by concern over
a slowing Chinese economy.
Automatic Data Processing said 162,000 private jobs were
created in September in the United States, more than the 143,000
expected by analysts, and down from a revised 189,000 in August.
The data was being closely watched ahead of the first of
three presidential debates Wednesday night in Denver and a key
government payrolls report on Friday.
"This is consistent with a moderate pace of job growth,"
said Scott Brown, chief economist at Raymond James in St.
"This is a big enough surprise that it might influence
expectations for Friday's payroll report."
S&P 500 futures were up 1.6 points and slightly above
fair value, a formula that evaluates pricing by taking into
account interest rates, dividends and time to expiration on the
contract. Dow Jones industrial average futures rose 12
points, and Nasdaq 100 futures added 6.5 points.
The Institute for Supply Management releases its September
gauge on the services sector at 10:00 a.m. ET (1400 GMT). A
Reuters survey forecast a reading of 53.2 versus 53.7 in August.
China's services sector weakened in September to its lowest
since November 2010, as slow growth in manufacturing was seen
feeding through to the rest of the economy.
European equities edged up and the euro steadied against the
U.S. dollar, underpinned by a belief that Spain will eventually
request financial aid, a step seen by some as required to
resolve the euro zone's debt crisis.
Best Buy shares gained 3.4 percent in premarket
trading as founder Richard Schulze and at least four private
equity firms started examining its books, in early steps toward
what could become an $11 billion buyout.
Shares of Family Dollar Stores rose 3 percent in
premarket trading after the discount chain posted a higher
Monsanto shares fell 3 percent in premarket trading
after the agribusiness group posted a fourth-quarter loss during
a seasonally sluggish sales period.
Google subsidiary Motorola Mobility has dropped a
complaint of patent infringement against Apple without