U.S. stock futures traded sideways early Friday as investors awaited a pivotal employment report and a possible Supreme Court decision that could affect President Trump’s tariffs.
Futures tied to the Dow Jones Industrial Average (YM=F), S&P 500 (ES=F), and Nasdaq 100 (NQ=F) all hovered near the baseline, News.Az reports, citing foreign media.
During Thursday’s regular session, market leadership shifted away from technology stocks. The Nasdaq Composite (^IXIC) was pressured by declines in companies such as Nvidia (NVDA), Palantir (PLTR), and Broadcom (AVGO), while the Dow Jones Industrial Average (^DJI) climbed back within striking distance of its record high.
Markets on Friday are focused on two key events. The first is a Supreme Court opinion day that could address the legality of tariffs imposed by Trump. The decision carries huge implications for the administration’s economic strategy and could restructure global trade should the high court find the levies unlawful.
The second catalyst arrives before the opening bell with the release of the December jobs report. Economists surveyed by Bloomberg expect payroll growth of about 70,000, with the unemployment rate ticking slightly lower to 4.5%. The report will be key for the Federal Reserve’s path ahead, with less than three weeks before its next interest rate decision.
Investors are also monitoring Trump’s comments directing the federal government to purchase $200 billion in mortgage-backed securities, in a bid to lower mortgage rates and address growing affordability concerns. Many details around that plan remain unclear.
All three major indexes are on pace to close the first full week of 2026 higher. The S&P 500 is up nearly 1% so far this week, while the Dow and Nasdaq have gained about 1.8% and 1.1%, respectively.