US stock futures stalled on Tuesday, struggling to shake off a losing session as investors counted down to the delayed release of the November jobs report, seen as pivotal to the path of interest rates next year.
Dow Jones Industrial Average futures (YM=F) hovered just below the flatline, while those tied to the S&P 500 (ES=F) shed 0.1%. Contracts on the tech-heavy Nasdaq (NQ=F) fell 0.2%, after the indexes kicked off the week with slight losses.
Tech led Monday’s losses, with AI jitters continuing to bubble around big names such as Oracle (ORCL) and Broadcom (AVGO) after their underwhelming earnings results last week.
Those worries will be put on the back burner to start Tuesday, as all eyes on Wall Street turn to the latest monthly employment figures. The late-arriving November nonfarm payrolls report will fill an economic data void caused by the US government shutdown — and fuel the big year-end debate over whether the Federal Reserve will halt or hasten policy easing in 2026.
A plurality of traders is betting on two rate cuts from the Fed next year, as policymakers focus on tackling the labor market rather that dealing with sticky inflation. The November report is expected to show a lackluster gain of 40,000 jobs when the print is released at 8:30 a.m. ET., while unemployment is seen at 4.4%. Investors also get a estimate on October payrolls, but only partial thanks to the US shutdown.
The jobs data will set the stage for another release on Thursday, with consumer inflation numbers for November set for an unveiling. Together, the two reports make up a chunk of the “great deal of data” Fed Chair Jerome Powell has flagged the central bank will study before its next rate decision in January.
In corporates, Ford (F) shares rose in premarket trading after the automaker said it would take a $19.5 billion charge as part of a pivot away from electric vehicles.
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Nasdaq seeks SEC approval for 23-hour trading during weekdays
Bloomberg reports:
Nasdaq Inc. (NDAQ), the second-largest exchange in the US, is looking for regulatory approval to extend trading hours on its stock venues to 23 hours during the work week.
The firm asked the Securities and Exchange Commission for permission to add an additional trading session, from 9 p.m. to 4 a.m. ET, according to a filing Monday. That would be on top of the pre-market, regular and post-market hours the firm already operates, the firm said.
… The exchange joins peers in touting growing interest in trading US stocks outside of traditional market hours, which run from 9:30 a.m. ET to 4 p.m. Market participants outside US trading welcomed the potential for faster pricing on earnings and macroeconomic developments, though they cautioned that near-continuous trading would give investors less time to digest after-hours headlines and may lead to more extreme swings during hours when liquidity is thin.
… Nasdaq’s move “is absolutely a game-changer,” said Dilin Wu, research strategist at Pepperstone Group in Australia. “It effectively brings US stocks into our local trading hours, increasing liquidity and allowing investors here to react in real time instead of waiting for overnight sessions. For anyone active in tech or high-beta US equities, it’s a significant step toward a truly global market.”
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