On the first day of trading in the new year on January 2, 2025, traders worked on the trading floor of the New York Stock Exchange (NYSE).
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U.S. stock futures fell late Thursday as investors anxiously awaited new economic data due on Friday.
S&P 500 Index Futures and Nasdaq 100 Futures 0.3% off every time. at the same time, Futures linked to the Dow Jones Industrial Average down 0.2%.
The moves come as Wall Street prepares for December nonfarm payrolls data, due out at 8:30 a.m. ET on Friday. Economists surveyed by Dow Jones Expected increase of 155,000a gain less than 227,000 Reading in November. Additionally, the unemployment rate is expected to remain at 4.2%.
“If we get a strong report, which we expect it will be, we may find that the market doesn’t react much to it because it’s just another reason why the Fed may not cut rates this year,” Sand Hill Global Brenda Vingiello, Chief Investment Officer of Advisors, said on CNBC “Gaga Box” Thursday.
According to the Federal Reserve, the market does not expect the central bank to cut interest rates at its next meeting later this month, and federal funds futures trading data shows that the probability of a rate cut is only about 7%. CME FedWatch Tool.
Earlier this week, the Institute for Supply Management’s services index show growth acceleration A recovery in the U.S. services sector and rising prices in December heightened concerns about rising inflation. In addition, private sector companies Fewer new jobs than expected last month, according to payroll provider ADP.
All three major averages are on track for weekly losses, with S&P 500 Index 0.4% discount and Nasdaq Index down 0.7%. 30 stocks Dow Chemical This week is expected to drop 0.2%. The New York Stock Exchange will be closed Thursday for a national day of mourning Former President Jimmy Carter.
Meanwhile, wildfires continue around Los Angeles, including the Palisades Fire – which is thought to be “One of the most devastating natural disasters” in the history of the city. Fire-related fear and uncertainty send stocks down Edison International Reduce more than 10% Wednesday meeting.
