U.S. stock futures advanced on Wednesday, with market participants awaiting the January nonfarm payrolls report, anticipated to provide further clarity on the Federal Reserve’s interest rate trajectory.
As of 4:45 P.M. (GMT+7), Dow Jones Industrial Average futures increased by 0.21%, or 105.40 points, to 50,239.50 points, while S&P 500 futures edged up by 0.11%, or 7.80 points, to 6,949.60 points. Nasdaq 100 futures also ticked up by 0.01%, or 2.20 points, to 25,129.80 points.
On Tuesday, the S&P 500 finished 0.3% lower, weighed down by concerns over artificial intelligence applications in financial services after Altruist introduced an AI-driven tax-planning tool, which contributed to declines across the sector. The Nasdaq Composite lost approximately 0.6%. By contrast, the Dow Jones edged up 0.1%, closing at all-time high once again.
Market sentiment is currently anchored on the January employment report from the Bureau of Labor Statistics, whose release was rescheduled due to a partial federal shutdown ending February 3. Economists surveyed by Dow Jones project a minimal gain of roughly 55,000 jobs, compared to December’s 50,000 increase. With data released earlier this week showing softer consumer spending, disappointing jobs data could intensify market caution.
Traders are also preparing for Friday’s release of the consumer price index, a key barometer of U.S. inflation. In addition, corporate earnings continue to draw attention. McDonald’s and Kraft Heinz are spotlighted for signals on U.S. consumer health. Meanwhile, investors await Cisco Systems’ quarterly results as the company seeks to expand its AI networking business in competition with Nvidia.
