Stock futures held steady on Thursday night as investors anticipated a significant jobs report and a possible Supreme Court decision on tariffs.
Futures for the Dow Jones Industrial Average ticked up by 7 points. The S&P 500 stayed close to unchanged, while Nasdaq 100 futures dipped slightly.
On Friday, two major events are expected to influence markets. First, the Supreme Court may rule on the legality of tariffs set by former President Trump’s administration. This ruling could reshape trade policies and affect the country’s economic landscape. Ohsung Kwon, a chief equity strategist at Wells Fargo, mentioned on CNBC that companies are hesitant to restock until they know the outcome of these tariffs. “Once the ruling comes, companies may begin restocking, reigniting the manufacturing cycle,” he said.
The second catalyst is the December jobs report, which economists predict will show an addition of 73,000 jobs, reducing the unemployment rate to 4.5%. This outlook might boost consumer confidence and spending.
Investors are also closely watching Trump’s direction for purchasing $200 billion in mortgage bonds, which he claims will lower interest rates and monthly payments.
In regular trading on Thursday, tech stocks saw a decline. The Nasdaq Composite fell by 0.4%, primarily due to losses from major players like Nvidia, Palantir, and Broadcom. In contrast, the Dow climbed 270 points, or 0.6%. The week so far shows positive momentum: the S&P 500 is up about 0.9%, while the Dow and Nasdaq have risen around 1.8% and 1.1%, respectively.
Financial Context
Historically, stock market reactions to significant economic reports have varied, influenced by factors such as inflation rates and Federal Reserve policies. Current market movements may reflect a cautious approach, as many investors await clear signals from upcoming reports.
According to recent surveys, nearly 60% of Americans express concern about inflation affecting their financial decisions. This suggests that upcoming jobs reports and policy changes could have even broader implications on consumer behavior and economic recovery.
For more in-depth coverage on these economic developments, you can refer to Reuters.
Source link
Breaking News: Markets,Stock markets,Markets,NASDAQ Composite,Dow Jones Industrial Average,Russell 2000 Index,Alphabet Class A,NVIDIA Corp,Microsoft Corp,Apple Inc,Broadcom Inc,Palantir Technologies Inc,Donald J. Trump,Dow Jones Fut (Sep'25),S&P 500 Fut (Sep'25),NASDAQ 100 Fut (Sep'25),S&P 500 Index,business news
