CNBC
Stock futures are little changed as Wall Street awaits June jobs report: Live updates
Thu, 03 Jul 2025 10:48:57 GMT
Traders work at the New York Stock Exchange on July 2, 2025.
U.S. stock futures were little changed Thursday as traders braced for June's big jobs report.
S&P 500 futures were fractionally lower, while Nasdaq 100 futures traded near flat. Futures tied to the Dow Jones Industrial Average rose 11 points.
Economists polled by Dow Jones expect that the economy added 110,000 jobs last month. That compares to May's gain of 139,000. Economists also see the unemployment rate inching higher to 4.3%, up from 4.2% in May.
If June's jobs report disappoints, the market could rotate away from more speculative technology stocks into value names, according to Jay Hatfield, founder and CEO of Infrastructure Capital Advisors.
"[Thursday] could be a little dicey," he told CNBC. "The tradeoff between tech stocks being down and value going up — a lot of times the overall market will go down because tech stocks are 40% of the market."
On the other hand, a disappointing report could mean that the Federal Reserve may be more keen to cut rates earlier than previously expected, possibly as early as July, Hatfield added.
Thursday's report comes a day after ADP released data showing that private payrolls decreased by 33,000 last month.
Investors are also following along the progress on Trump's tax megabill, which finally passed the Senate on Tuesday. The bill has returned to the House, where negotiations among Republican lawmakers remain heated.
Thursday will be a shortened trading session, with the New York Stock Exchange and the Nasdaq closing at 1 p.m. ET. U.S. markets are closed on Friday for Independence Day.
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