Early indications point to a slow start to the trading day Wednesday, with stock index futures stalled after the latest jobs report from ADP showing the economy losing more jobs than expected during the month of November. Forty-five minutes before the start of trading in New York, index futures suggest that both the Dow Jones Industrial Average and the NASDAQ would open little changed.

Stock index futures struggled following solid gains Tuesday and after Automatic Data Processing reported that the US economy lost 169,000 jobs last month. Economists were expecting the report, which comes two days before the Labor Department releases its monthly jobs data, to show a loss of 160,000.

While ADP’s report includes private sector jobs, Friday’s numbers consider both private and public workers. Economists expect the report to show a loss of 120,000 and the rate of unemployed to edge up to 10.3 percent from 10.2 percent.

But first, investors will get a qualitative look at economic conditions courtesy of the Fed’s Beige Book due out this afternoon. Weekly jobless claims, productivity, and the ISM services index are due out Thursday morning.

Trading in the bond and currency markets is uneventful so far. The benchmark ten-year Treasury is near unchanged and yields 3.8 percent. The buck added .33 to 87.04 against the yen. The euro is flat at 1.5082 on the dollar.

Crude oil is down 51 cents to $77.86 ahead of weekly inventory data. Gold gained $10.4 to $1210.60 and set another new record high.

Among the stocks to watch, AMR and some of the other airlines might see early strength after Morgan Stanley raised the group to attractive. McDonald’s (MCD) is in focus after the company said late Tuesday that its COO Ralph Alvarez is stepping down due health reasons. The earnings calendar remains light, but a number of second tier retailers — Collective Brands (PSS), Aeropostale (ARO), Jo-Ann (JAS) — are due to report after the closing bell. Homebuilder Toll Brothers (TOL) reports tomorrow before the bell.