Dow futures were up about 58 points on Thursday, trading near 45,350.00, showing a bit of cautious optimism ahead of key labor market data.
S&P 500 futures ticked higher by 15 points to around 6,471, while Nasdaq futures added roughly 70 points to 23,645.
Moves were mixed across the board, with the mini contracts mirroring those levels. Overall sentiment stayed muted as traders waited on private payrolls and tomorrow’s nonfarm jobs report.
Expectations for a Fed rate cut this month are keeping the bias slightly bullish, but most investors are still holding back until the numbers hit.
5 things to know before Wall Street opens
1. Heading into Thursday’s session, sentiment stayed cautious with traders waiting on fresh labor market data, including private payrolls and services numbers.
Wall Street’s mood is being pulled in two directions with optimism around mega-cap names like Apple and Alphabet on one side, and worries over weak guidance from Salesforce plus choppy retail earnings on the other.
The data will be key in shaping expectations for Fed rate cuts, which most still see happening this month. For now, positioning looks measured, with everyone bracing for numbers that could tilt the market either way.
2. In premarket trading, American Eagle Outfitters is a top gainer, surging by about 23% following an upbeat sales forecast and strong performance linked to celebrity partnerships.
Conversely, Salesforce is under pressure, down 6.6%, as weak revenue guidance raises doubts about the monetization of its AI enterprise offerings.
Figma’s shares plunged over 15% after a disappointing first earnings report post-IPO, highlighting ongoing volatility in the tech sector.
AI-related stocks such as Credo Technology are receiving positive momentum based on increased demand for AI infrastructure.
3. Technical readouts on the major US indices paint a mixed, cautious picture.
The Nasdaq 100 and S&P 500 are still holding above key support zones and trying to claw back their 50-day moving averages, but those levels remain tough resistance for any sustained rally.
Momentum gauges point more toward consolidation, with the risk of choppier moves depending on how the next batch of economic data lands.
4. Global signals are sending a mixed message this morning. Asian markets were uneven, while Europe traded a bit firmer.
Oil’s been under some pressure, and both gold and Treasury yields are showing the kind of cautious positioning you’d expect with geopolitical tensions in the background.
All of that feeds into a fragile balance shaping Wall Street’s early mood. The macro backdrop just adds another layer for traders to weigh as they line up US data against the bigger global picture.
5. Earnings season is still steering a lot of the market’s mood. On deck today are reports from names like VersaBank, Ciena, and G-III Apparel Group, with expectations all over the place.
Any surprises or shifts in forward guidance could easily stir up volatility. Investors are keeping a close watch, since corporate results remain a big tell on changing consumer demand and fast-moving tech trends.
These updates will feed straight into how Wall Street is reading sector strength or weakness, and by extension, the broader market tone.
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