Stock market today: Dow, S&P 500, Nasdaq futures nudge higher as jobs data puts tariffs in the shade
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Stock market today: Dow, S&P 500, Nasdaq futures nudge higher as jobs data puts tariffs in the shade
US stock futures ticked higher on Wednesday as Wall Street waited for fresh jobs data, with one eye on prospects for a US-China trade talks. S&P 500 futures added roughly 0.2%, while those on the Dow Jones Industrial Average (YM=F) edged up 0.1%. Contracts on the tech-heavy Nasdaq 100 (NQ=F), also nudged 0. 2% higher.
S&P 500 futures (ES=F) added roughly 0.2%, while those on the Dow Jones Industrial Average (YM=F) edged up 0.1%. Contracts on the tech-heavy Nasdaq 100 (NQ=F) also nudged 0.2% higher.
Stocks are poised for a third day in the green as investors welcome unexpected signs that the labor market is holding up in the face of President Trump’s tariff escalation.
Eyes are now on ADP private payrolls data due later Wednesday, leading into the release of the crucial monthly jobs report on Friday. Both will be scrutinized for confirmation the US economy can weather the impact of Trump’s trade policy, which the OECD warned could spur a slowdown.
Read more: The latest on Trump’s tariffs
Overnight, Trump’s Tuesday order doubling tariffs on steel and aluminum import to 50% came into effect, with only the UK spared the jump in duties on Wednesday. Meanwhile, Wednesday is deadline day for trading partners to make “best offers” for a deal to fend off “reciprocal” tariff hikes scheduled for July.
Hopes for a US-China trade pact dimmed after Trump called President Xi “extremely hard to make a deal with” in a post to social media on Wednesday. The Geneva tariff truce between the two has appeared increasingly fragile amid clashes over issues such as chip exports, rare earth supplies, Taiwan, and visas.
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