Traders work on the floor of the New York Stock Exchange on the first day of trading of the new year on January 2, 2025.
Spencer Platt | Getty Images
U.S. stock futures were little changed Sunday evening, as investors looked ahead to jobs data in another short trading week.
Futures contracts are linked to the Dow Jones Industrial Average It decreased by 4 points or 0.04%. Standard & Poor's 500 futures He added 0.03% Nasdaq 100 futures It rose by 0.05%.
On Friday, major indexes closed higher to cap a shaky week as the “Santa Claus Rally” failed to materialize. the Dao The index closed up 339.86 points, or 0.8%, to 42,732.13 points. the Standard & Poor's 500 It rose 1.26% to 5942.47 points. the Nasdaq Composite It advanced 1.77% to close at 19621.68. Each of them still posted a losing week.
Investors are entering another short trading week – which will conclude the next of January's first five trading days – on a volatile note and with continued concerns about the Federal Reserve's interest rate outlook. The New York Stock Exchange will close its doors today, Thursday, to mourn the death of former President Jimmy Carter.
Traders will be looking for clues about the strength of the economy and the durability of the Federal Reserve's interest rate plans. Next week could be another opportunity for traders to reset their expectations, said Callie Cox, chief market strategist at Ritholtz Wealth Management.
“The data shows us that unemployment is rising and people are having a hard time finding jobs. There are cracks in employment that could reappear at any time,” she told CNBC. “It will be important to watch yields as well. The 10-year yield is near a high of 4.6%, and jobs days have worried bond investors in the past.”
The December jobs report is due on Friday, and will be one of the last major data before the Federal Reserve meets at the end of this month. Investors are also watching the results of the Job Opportunities and Labor Turnover Survey (JOLTS) on Tuesday and the December ADP Employment Survey on Wednesday.
“It's clear that both retail investors and Wall Street have high hopes for 2025,” Cox said. “Americans are unusually confident, executives are optimistic, and earnings growth is expected to be the strongest in years.”
“This is a good environment for the stock market… but after two years of gains of more than 20%, we may be a little spoiled,” she added. “High expectations will be a clear and recurring theme for 2025, and we may get our first taste of disappointment as the data starts to trickle in.”
Constellation Brands, Walgreens Boots Alliance and Delta Air Lines will also report earnings at the end of the week.
