U.S. stock futures were slightly higher on Monday as investors looked ahead to key jobs data in a shortened trading week. S&P 500 futures rose 0.4%, while Nasdaq-100 futures advanced 0.7%. Dow Jones Industrial Average futures fell 5 points.
Investors are entering the week with concerns about the Federal Reserve’s interest rate plans. The New York Stock Exchange will be closed Thursday to mourn former President Jimmy Carter. Traders will look for clues about the economy’s strength and the stability of Fed rates.
Callie Cox, chief market strategist at Ritholtz Wealth Management, said the week could be a chance for traders to adjust expectations. “Data shows unemployment is climbing and people are having a hard time finding jobs. There are cracks in hiring that could re-appear at any time,” she said.
“It’ll be important to watch yields too. The 10-year yield is near a high of 4.6%, and jobs data have rattled bond investors in the past.”
The December jobs report is due Friday and will be one of the last key pieces of data before the Fed’s meeting later this month. Investors are also watching the JOLTS report on Tuesday and the ADP Employment Survey on Wednesday.
“It’s clear that both individual investors and Wall Street have high hopes for 2025,” Cox said. “Americans are unusually confident, CEOs are upbeat, and profit growth is expected to be the strongest in years.”
“This is a decent environment for stocks, but after two years of 20%+ gains, we may be a little spoiled. High expectations are going to be a clear theme of 2025, and we may get our first taste of disappointment as data starts rolling in,” she added.
Constellation Brands, Walgreens Boots Alliance, and Delta Air Lines will also report earnings later in the week.
December jobs report and Fed outlook
On Friday, the major indexes closed higher to cap a shaky week, with a “Santa Claus rally” ending up 0.8%.
The S&P 500 rose 1.26%, and the Nasdaq advanced 1.77%. Each still posted a losing week. European stock markets opened mostly higher Monday, with the Stoxx 600 index up 0.29%.
France’s CAC 40 jumped 0.77%, while Germany’s DAX gained 0.4%. The U.K.’s FTSE 100 dipped 0.1%. Asia-Pacific markets mostly fell as investors assessed business activity data from several key economies.
Stocks in mainland China hit their lowest in over three months, with the CSI 300 losing 0.16% and closing at 3,769. China’s Caixin services PMI rose to 52.2 in December — the sector’s fastest expansion since May 2024. In contrast, South Korea was up 1.91% and among Asia’s biggest gainers.
Bitcoin and ether are coming off their best weeks since Dec. 6, after posting their first positive weeks in four on Friday. Each gained about 4% for the week.
On Sunday night, they were lower by less than 1% each. Solana had its best week since November 22nd, notching over a 4% weekly gain. It traded 1.25% lower Sunday night.
