* ADP report shows fewer jobs added in May than expected
* Many investors worry about low volume and volatility
* Protective Life jumps in premarket, Dai-ichi to buy
* Futures down: Dow 19 pts, S&P 3.6 pt, Nasdaq 9 pts
(Adds ADP data)
By Ryan Vlastelica
NEW YORK, June 4 U.S. stock index futures
pointed to a lower open on Wednesday as data on the labor market
came in weaker than expected, giving investors reason to sell
amid few positive catalysts and with indexes near record levels.
* About 179,000 private sector jobs were added in May, well
below the 210,000 that had been expected, according to the ADP
National Employment Report. April's job gains were revised loser
* The report comes after a string of economic indicators
pointed to improving conditions, and it could raise caution for
Friday's closely watched non-farm payrolls report.
* Equities have been strong lately, with the S&P 500
up for seven of the past nine sessions, hitting multiple records
over that period. However, the gains have come in anemic trading
volume, suggesting the rally lacks conviction.
* Another potential trading catalyst will come at 10:00 a.m.
(1400 GMT), when the Institute for Supply Management's May read
on services will be released. Analysts expect it to rise by 0.3
* S&P 500 futures fell 3.6 point and were below 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 fell 19
points and Nasdaq 100 futures lost 9 points.
* Roughly 118,000 S&P 500 e-mini contracts traded as
of 8:30 a.m., suggesting another light day of trading. On
Tuesday, the SPDR S&P 500 ETF, typically one of the most
heavily traded securities on a given day, had one of its most
thinly traded sessions of 2014.
* Along with volume, volatility has been light, despite a
4.1 percent pop in the CBOE Volatility index over the
past two sessions. The "fear index" remains below 12, well below
the historical average of 20, which has some investors concerned
the market has become complacent.
* Market action is expected to spike on Thursday, when the
European Central Bank meets. Many investors expect bold action
by the bank to fight low inflation and high unemployment.
* In company news, Protective Life jumped 18 percent
to $69.30 in heavy premarket trading after Japan's Dai-ichi Life
Insurance Co agreed to buy the company for $5.7
* Tibco Software Inc was the Nasdaq's most active
premarket mover, slumping 13 percent to $18.16 a day after the
company gave a second-quarter outlook that was sharply below
* The Wall Street Journal reported that NRG Energy Inc
is close to a deal worth more than $800 million to buy
Alta Wind Energy Center, the largest wind farm in North America.
* Fuel cell companies were weak in premarket trading, with
FuelCell Energy down 14 percent to $2.04 and Plug Power
Inc off 4.1 percent to $4.23. Both names were among the
Nasdaq's most active before the bell.
* Financial information service provider Markit Ltd
IPO-MRKT.O said it expected its initial public offering to be
priced at $23-$25 per share, which could value the company at up
to $4.47 billion.
(Editing by Bernadette Baum)