Stock futures were mostly unchanged on Friday night as investors awaited a significant jobs report and a potential U.S. Supreme Court ruling on tariffs.
Futures Movements and Economic Reports
Futures for the Dow Jones Industrial Average rose by 6 points. S&P 500 futures remained steady, while Nasdaq 100 futures increased. The market is closely watching two key events this week.
The Supreme Court is expected to rule on the legality of President Donald Trump’s tariffs, which could affect trade policy and the economy. Wells Fargo’s Ohsung Kwon noted that companies are waiting to see the ruling before restocking, which may boost manufacturing.
Job Data and Impact on Market
Additionally, the December jobs report will be released at 8:30 a.m. ET, likely showing a modest increase with nonfarm payrolls expected to rise by 73,000 and the unemployment rate dipping to 4.5%, according to economists surveyed.
Investors will also monitor Trump’s directive for representatives to purchase $200 billion in mortgage bonds, claiming it will reduce rates and monthly payments.
Market Trends and Performance
In regular trading on Thursday, investors shifted away from tech stocks, with the Nasdaq Composite falling by 0.4% due to declines in companies like Nvidia and Palantir. Conversely, the Dow rose by 270 points, or roughly 0.6%, and the S&P 500 ended slightly higher.
Overall, the stock market is on track for a positive week, with the S&P 500 up about 0.9%, the Dow gaining approximately 1.8%, and the Nasdaq increasing by around 1.1%.
