U.S. stock futures opened soft, with trading expected to reflect expectations for tomorrow's U.S. employment report. S&P 500 futures are trading in the low 7,700s, Nasdaq 100 futures are sharply lower, and Dow futures are slightly higher.
U.S. stock futures opened weak, with S&P 500 futures reported at 7,704.25, down 16.25, and Nasdaq 100 futures at 28,284.00, down 282.75. Dow futures are up $146, while crude oil prices and long-term interest rates will provide market cues.
In the previous day's U.S. stock market, the Dow rebounded sharply, rising 1,569 points to 53,356, while the S&P 500 and Nasdaq extended their gains but struggled to advance toward the close. It was reported that political risk had temporarily receded after Republicans fell short of a majority in both chambers of Congress in the midterm elections.
Buying strengthened, particularly in healthcare, while technology-related stocks saw selling, at times weighing on the market. Crude oil was on a downward trend, and it was suggested that falling interest rates resulting from slowing inflation could be viewed favorably.
Even if tonight's initial jobless claims report is weak, some observers expect investors to assess labor-market conditions. Depending on this weekend's employment report, expectations for additional Fed rate hikes could re-emerge, it has been suggested.