Stock futures flat after recent gains, ahead of ADP report

NEW YORK (Reuters) - Stock index futures were little changed on Wednesday, a day after the Dow and S&P advanced to their highest close in about 2-1/2 years as investors looked ahead to new data on the labor market.

The ADP employment report was expected to show a gain of 145,000 after beating expectations last month by jumping to 297,000. The data could give insight into Friday's non-farm payroll number, though last month indicated little correlation between the two reports.

"Even though last month's ADP didn't give us a great clue in the payroll number, any information on the jobs situation will be heavily traded," said Kim Caughey Forrest, senior equity research analyst at Fort Pitt Capital Group in Pittsburgh.

Caughey Forrest said reaction could be more exaggerated since much of the United States has been hit by bad weather, which could prevent traders from getting to their desks.

"With fewer traders there will be less volume, and that means greater volatility," she said. "It is possible that any swing we see after ADP could be exacerbated."

S&P 500 futures rose 0.4 points and were 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 added 8 points, and Nasdaq 100 futures fell 2.75 points.

In earnings news, appliance maker Whirlpool Corp reported an adjusted profit that missed expectations.

Time Warner Inc posted a rise in earnings and revenue.

Visa Inc is on tap to report after the market closes.

On Tuesday, the Dow and S&P 500 closed at their highest levels since June 2008 and looked poised for more gains after strong earnings and signs of a surge in U.S. manufacturing. The Nasdaq surged almost 2 percent.

(Editing by Jeffrey Benkoe)