U.S. stocks are gearing up for a cautiously optimistic start on Wednesday after a late-session recovery led to a positive close in the previous session. Labor market data and service sector activity reading could set the tempo for the day's trading direction. A soft private payroll number could prove to be a double-edged sword, depending on what traders choose to focus on. Bond yields remain subdued and but could see some volatility post the data. Positive reactions to earnings, specifically from the tech sector, could provide a lift to the space.