Stock Futures Hold Steady Ahead of Crucial Jobs Data

U.S. stock index futures were largely unchanged on Sunday evening, as investors awaited crucial jobs data due later in the week. The S&P 500 Futures were steady at 5,991.00 points, while Nasdaq 100 Futures inched up 0.1% to 21,529.75 points by 19:15 ET (00:15 GMT). Dow Jones Futures were largely unchanged at 43,028.0 points.

Markets will see another shortened week of trading as the New York Stock Exchange will be closed on Thursday to honor the passing of former President Jimmy Carter. Investors will be closely watching Fed meeting minutes, jobs data, and other economic indicators for fresh rate outlook clues.

Minutes for the Federal Reserve’s Dec 17-18 meeting are due on Wednesday, which could help markets further gauge the Fed’s interest rate outlook. The central bank has signaled fewer rate cuts this year in the face of sticky inflation and a resilient economy. December jobs report is due on Friday, with economists expecting the U.S. economy to have added 154,000 jobs in December, while the unemployment rate is expected to hold steady at 4.2%.



The employment data is expected to show that the U.S. economy added 154,000 jobs in December, while the unemployment rate is expected to hold steady at 4.2%. The jobs report will be closely watched by investors, as it can provide valuable information about the job market's health and the Fed's potential policy moves.

Wall Street is looking for signs that the job market is cooling steadily, rather than plummeting into conditions for a recession. Economists project that U.S. employers added 160,000 jobs and that the unemployment rate ticked down to 4.2% in August, according to FactSet consensus estimates. Preliminary data has shown that the job market is continuing to cool, with payroll processor ADP reporting that hiring cooled more than expected in the U.S. private sector, with businesses adding just 99,000 jobs last month.

Investors will also be keeping an eye on other economic indicators, such as the ISM services PMI, final GDP data, November factory orders, and trade figures, as well as weekly jobless claims. These indicators can provide additional insights into the overall health of the economy and the potential direction of the stock market.

In conclusion, stock index futures were largely unchanged on Sunday evening as investors awaited crucial jobs data due later in the week. The Fed meeting minutes and jobs report will be closely watched by investors, as they can provide valuable information about the job market's health and the Fed's potential policy moves. Other economic indicators, such as the ISM services PMI and GDP data, will also be closely monitored for insights into the overall health of the economy.