Morning Market Update: March 3, 2010

U.S. stock futures are trading mixed Wednesday as investors remain cautious ahead of reports on the jobs market and service sector industry. The ADP reported that U.S. private employers shed 20,000 jobs in February, inline with estimates and fewer than the 60,000 jobs lost in January. Economists expect the Institute of Supply Management's service sector index rose to 51 last month, up from 50.5 in January. A reading over 50 indicates growth. Investors will also get better clues about economic activity after the Federal Reserve releases its beige book report at 2 PM ET. Overseas markets are mixed after Greece announced a budget plan that creates $6.5 billion in savings for the debt-ridden country. In corporate news, Costco (NASDAQ:COST) reported fiscal Q2 EPS of $0.70, ex-items, missing consensus estimates of $0.72. Sales in the quarter rose 11.3% year-over-year to $18.74 billion, and came in ahead of consensus estimates of $18.53 billion. Citigroup's (NYSE:C) Primerica has agreed to sell $230 million in stock to Warburg Pincus, ahead of a planned IPO of the insurance unit, according to a Bloomberg report. The Dow Jones Industrial Average (DJI) futures are currently unchanged, the S&P500 (INX) futures are trading 0.30 points above fair value, and the Nasdaq Composite (IXIC) futures are trading 3.25 points below fair value.