SmarTrend Morning Market Update: June 30, 2010

U.S. stock futures are trading higher Wednesday ahead of the ADP report on hiring at private companies in June. ADP is expected to say 60,000 jobs were added during the month, compared to 55,000 in May. The report is due out at 8:15 AM ET. Also due out is a Chicago-area manufacturing gauge. In corporate news, Telefonica (NYSE:TEF) lifted its bid for Portugal Telecom's stake in a Brazilian mobile arm to 7.15 billion euro. The Dow Jones Industrial Average (DJI) futures are trading 52.00 points above fair value, the S&P500 (INX) futures are trading 7.00 points above fair value, and the Nasdaq Composite (IXIC) futures are trading 12.00 points above fair value.