U.S. stock futures were little changed overnight on Monday as investors counted down to the delayed November jobs report, which is seen as key to the direction of interest rates next year.
Dow Jones Industrial Average futures (YM=F) rose above the flat line, while futures tied to the S&P 500 (ES=F) rose 0.1%. Futures for the tech-heavy Nasdaq Composite (NQ=F) also rose 0.1% after opening the week slightly lower.
Technology stocks led losses on Monday, as worries about artificial intelligence continued to surround major companies such as Oracle (ORCL) and Broadcom (AVGO) after poor earnings results last week.
Starting Tuesday, those concerns will be put aside as all eyes on Wall Street turn to the latest monthly jobs data. The late November non-farm payrolls report will fill the economic data gap caused by the U.S. government shutdown and trigger a year-end debate on whether the Federal Reserve will stop or accelerate policy easing in 2026.
Most traders are betting the Fed will cut interest rates twice next year as policymakers focus on fixing labor market problems rather than fighting sticky inflation. When released at 8:30 a.m. ET, the November report is expected to show 50,000 new jobs, but the unemployment rate is expected to be 4.4%. Investors also got estimates for October’s payrolls, but only partly thanks to the U.S. government shutdown.
The jobs data will set the stage for another delayed release on Thursday, as will consumer inflation data for November. Together, the two reports form part of a “large body of data” that Fed Chairman Jerome Powell said the central bank will study ahead of its next rate decision in January.
On the corporate front, Ford said it would take a $19.5 billion charge as part of a move away from electric vehicles, sending its shares higher in after-hours trading.
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