Stock Market Live Updates: Stock Futures Stuck as Wall Street Waits on Jobs Report & Fed
Markets are on pause with a big jobs report coming. Amazon’s weak forecast hits tech, and Trump’s tax moves shake up Wall Street. Follow the live updates.
U.S. stock futures held steady Friday morning as Wall Street waited for the January jobs report, a key indicator that could shape expectations for Federal Reserve policy. Investors are watching closely, with S&P 500 and Nasdaq 100 futures hovering just below break-even, while Dow Jones futures showed little movement. After a mixed session on Thursday, the market remains in a holding pattern, with uncertainty over interest rates and economic growth keeping traders cautious.
The jobs report, due at 8:30 a.m. ET, is expected to show that 170,000 jobs were added in January, down from December’s 256,000. While a cooling labor market could support the case for rate cuts, economists don’t see this report as a game-changer. Expectations are shifting toward the Fed holding off on cutting rates until at least June, especially with inflation concerns tied to President Donald Trump’s renewed push for tariffs on major trade partners like Canada, Mexico, and China.
Also Read: Investors Place High-Stakes Bet on Musk and Tesla Under Trump
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Amazon’s earnings release added pressure to the tech sector, as the company’s weaker-than-expected revenue forecast fueled concerns about high AI-related spending. Amazon shares fell about 4% in pre-market trading, echoing similar post-earnings declines from Google and AMD. Despite these setbacks, all three major stock indexes remain on track for modest weekly gains, even as volatility lingers.
Adding to market tension, Trump has now turned his attention to hedge funds, proposing to eliminate a tax loophole that benefits fund managers. His administration is also reviewing potential changes to the state and local tax (SALT) deduction, a move that could reshape tax policy heading into the election year. With interest rates, trade policies, and corporate earnings all in focus, investors are bracing for more market swings in the weeks ahead.
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Key Moments
- Stock futures hold steady before key jobs report.
- Amazon stock drops after weak revenue outlook.
- Trump plans tax changes targeting hedge funds.
- Investors watch Fed amid inflation and trade concerns.
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07 Feb 2025 07:36 AM
Good Morning! Here’s What’s Coming Up Today
Jobs & Economy: Key reports today will reveal how the job market performed in January, including employment growth, unemployment rate, wage trends, and average work hours. Revised job data will also be released, along with a consumer confidence update from the University of Michigan.
Company Earnings: Investors will be watching financial reports from Canopy Growth (CGC) and Newell Brands (NWL) to see how these companies performed recently.
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07 Feb 2025 07:37 AM
European Stocks Fluctuate but Stay on Track for 7th Weekly Gain
European markets saw some ups and downs on Friday but stayed on track for another winning week, boosted by solid earnings from companies like Novo Nordisk (NVO, NOVO-B.CO).
The Stoxx 600 index (^STOXX) hovered near record highs, extending a strong 2025 run where European stocks have outpaced U.S. markets for the first time in a decade.
Germany’s DAX (^GDAXI) edged up 0.1%, while France’s CAC (^FCHI) remained flat. In London, the FTSE 100 (^FTSE) dipped 0.3%, cooling off after Thursday’s rally, which was fueled by the Bank of England’s unexpected rate cut and a surprisingly dovish outlook.
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07 Feb 2025 10:23 AM
US Job Growth Slows in January, but Unemployment Rate Declines
The US labor market remained steady in January, with fewer jobs added but a surprising drop in the unemployment rate.
According to the Bureau of Labor Statistics, unemployment fell to 4% from 4.1% in December. Employers hired 143,000 new workers, missing the expected 170,000 and coming in well below December’s upwardly revised 307,000, originally reported as 256,000.
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07 Feb 2025 10:24 AM
Stocks Edge Up as Jobs Report Signals Economic Strength
US stocks made slight gains on Friday as investors reacted to a jobs report that highlighted the economy’s resilience.
The S&P 500 (^GSPC) hovered near break-even, while the Nasdaq Composite (^IXIC) opened slightly higher. The Dow Jones Industrial Average (^DJI) saw a modest 0.1% increase.
January saw 143,000 new jobs added—below the 173,000 economists had predicted. However, wages rose, and the unemployment rate unexpectedly dipped to 4.0% from 4.1%. December’s job growth was also revised upward to 307,000 from the previously reported 256,000.
Meanwhile, Amazon (AMZN) shares slid more than 2% after the company’s revenue outlook disappointed investors.
