Traders work on the trading floor of the New York Stock Exchange on January 2, 2025, the first day of trading in the new year.
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U.S. stock futures were little changed on Monday morning as investors looked ahead to employment data in another shortened trading week.
Futures linked to the Dow Jones Industrial Average It’s flat, S&P 500 Index Futures 0.16% was added, and Nasdaq 100 Futures up 0.24%.
Major stock indexes ended higher on Friday, capping a tumultuous week as a “Santa Claus rally” failed to materialize. this Dow Chemical It closed up 339.86 points, or 0.8%, to 42,732.13 points. this S&P 500 Index up 1.26% to 5,942.47. this Nasdaq Index rose 1.77% to close at 19,621.68. Each of them still posted a losing week.
Investors are entering another shortened trading week – which will end the next of January’s first five trading days – with volatile investor sentiment and lingering concerns about the Federal Reserve’s interest rate forecasts. . The New York Stock Exchange will be closed Thursday to mourn the death of former President Jimmy Carter.
Traders will be looking for clues about the strength of the economy and the robustness of the Fed’s interest rate plan. Callie Cox, chief market strategist at Ritholtz Wealth Management, said the coming week could be another opportunity for traders to recalibrate expectations.
“The data shows that unemployment is rising and people are having a hard time finding work. The hiring gap could reappear at any time,” she told CNBC. “It’s also important to keep an eye on yields. The 10-year Treasury yield is near a high of 4.6%, and past employment conditions have made bond investors uneasy.”
The December jobs report is due out on Friday and will be one of the last key pieces of data before the Federal Reserve meets at the end of the month. Investors are also watching Tuesday’s Job Openings and Labor Turnover Survey (JOLTS) and Wednesday’s December ADP employment survey.
“It’s clear that individual investors and Wall Street have high hopes for 2025,” Cox said. “Americans are unusually confident, CEOs are optimistic, and profit growth is expected to be the strongest in years.”
“It’s a good environment for stocks… but after two years of 20%-plus gains, we’re probably a little bit spoiled,” she added. “High expectations will be a clear, recurring theme in 2025, and as the data starts rolling in, we may get our first taste of disappointment.”
Constellation Brands, Walgreens Boots Alliance and Delta Air Lines are also due to report earnings this weekend.
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