U.S. stock futures were swinging on Wednesday following Tuesday’s advances. Futures of major benchmark indices were mixed.
Investors were awaiting August’s crucial producer price inflation, slated for a release later today.
This will be followed by the August consumer price inflation data to be released on Thursday morning.
Stocks reached new record highs on Tuesday, driven by revised U.S. job figures that showed a slowing labor market. This data strengthened investor confidence that the Federal Reserve will cut interest rates in September.
Meanwhile, the 10-year Treasury bond yielded 4.08% and the two-year bond was at 3.54%. The CME Group’s FedWatch tool‘s projections show markets pricing a 100% likelihood of the Federal Reserve cutting the current interest rates for the Sept. 17 decision.
| Futures | Change (+/-) |
| Dow Jones | -0.27% |
| S&P 500 | 0.13% |
| Nasdaq 100 | 0.07% |
| Russell 2000 | -0.36% |
The SPDR S&P 500 ETF Trust (NYSE:SPY) and Invesco QQQ Trust ETF (NASDAQ:QQQ), which track the S&P 500 index and Nasdaq 100 index, respectively, rose in premarket on Wednesday. The SPY was up 0.16% at $651.37, while the QQQ advanced 0.12% to $581.20, according to Benzinga Pro data.
Cues From Last Session
Most sectors on the S&P 500 closed on a positive note, with utilities, health care, and communication services stocks recording the biggest gains on Tuesday. However, materials and industrials stocks bucked the overall market trend, closing the session lower. This broad strength led U.S. stocks to settle higher, with all three major indices closing at record highs.
The Bureau of Labor Statistics removed 911,000 nonfarm payroll jobs from its count between April 2024 and March 2025, indicating the labor market had been cooling far earlier than many on Wall Street had anticipated.
Markets briefly dipped in the wake of the data release. Yet, major U.S. equity indices showed some recovery by midday in New York as the sharp downward revision in payrolls further strengthens the case for the Federal Reserve to begin cutting interest rates.
UnitedHealth Inc. (NYSE:UNH) jumped more than 8% on Tuesday after the health care giant offered an upbeat assessment of its Medicare Advantage business.
The Dow Jones index ended 196 points …