U.S. stock futures ticked up slightly on Wednesday as investors weighed the implications of the latest jobs data for Federal Reserve policy and the broader economic outlook.
As of 4:52 P.M. (GMT+7), Dow Jones Industrial Average futures edged up by 0.19%, or 92.70 points, to 48,207.00 points. S&P 500 futures gained slightly by 0.27%, or 18.70 points, to 6,818.90 points, while the Nasdaq 100 futures added by 0.32%, or 79.60 points, to 25,212.50 points.
Investors are searching for clarity after November’s jobs report presented mixed signals, revealing stronger-than-expected job growth alongside the highest unemployment rate since 2021.
Analysts cautioned the data may be less reliable due to disruptions in federal data collection caused by a prolonged government shutdown, leading markets to keep the likelihood of a January Fed rate cut at 25%.
Raphael Bostic, President of the Atlanta Fed, does not support cutting rates at all next year unless inflation edges lower, while believing that the economy will be strong in 2026.
Attention on Wednesday turns to potential guidance from Federal Reserve officials, with upcoming remarks from New York Fed President John Williams and Governor Chris Waller. Waller is also reported to be interviewing with President Donald Trump on Wednesday, as Trump narrows his choice to replace Jerome Powell as Fed Chair.
Market participants are also preparing for Thursday’s release of the November Consumer Price Index, a key inflation metric highlighted by Chair Powell as central to next month’s policy decision.
Investor attention also turned to tech stocks, with Micron Technology’s earnings set for release after the bell. The stock is under scrutiny as concerns persist around the artificial intelligence sector, even as memory chip shortages have been a tailwind.
Tesla has added positive momentum to the tech segment, with shares closing at a record high. This comes as investors grow increasingly optimistic about the company’s progress in its robotaxi initiative.
