US Stock Futures Edge Higher After Strong Jobs Data and Mixed Earnings Reports

Hadisur Rahman, JadeTimes Staff

H. Rahman is a Jadetimes news reporter covering Business

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Image Source: SCOTT LEHTONEN

US stock futures turned slightly positive in premarket trading Wednesday as investors reacted to stronger-than-expected employment data and a series of mixed corporate earnings reports.

Futures tied to the Dow Jones Industrial Average rose 0.1%, while S&P 500 futures gained modestly. Nasdaq 100 futures were little changed, slipping less than 0.1%. The 10-year Treasury yield inched up to 4.11%, and oil prices continued to fall, with West Texas Intermediate trading near $60.15 a barrel.

Markets found support after the latest ADP jobs report showed an increase of 42,000 private payrolls in October, beating economists’ forecasts of 25,000. The better-than-expected data offered a positive signal on the strength of the labor market, following a 32,000-job decline in September.

Within the Dow, Amgen and Caterpillar led early gains, climbing 2% and 0.4%, respectively. Caterpillar shares are looking to break a four-day losing streak. UnitedHealth Group, however, slipped 0.7%, extending its recent decline below the 50-day moving average.

In earnings news, Advanced Micro Devices shares fell nearly 3% despite reporting solid third-quarter results. The chipmaker posted adjusted earnings of $1.20 per share on revenue of $9.25 billion, both exceeding analyst expectations. However, profit-taking and cautious guidance weighed on sentiment.

Astera Labs gained more than 1% after surpassing profit forecasts and raising guidance for the current quarter. Other notable movers included Arista Networks, which plunged nearly 10%, and Cameco, which fell 3%. McDonald’s edged up 1%, while Cava and Super Micro Computer each slipped about 7%.

Investors remain focused on Friday’s broader labor market report, though the potential federal shutdown may delay its release. For now, Wall Street appears cautiously optimistic, balancing upbeat economic data with ongoing earnings volatility.