U.S. stock futures traded slightly higher on Wednesday, following a positive session yesterday. The S&P 500 index (SPX) and the Nasdaq Composite (NDAQ) both closed at all-time highs, driven by strong performances in technology stocks. Meanwhile, futures on the Nasdaq 100 (NDX), the Dow Jones Industrial Average (DJIA), and the S&P 500 were up 0.34%, 0.35%, and 0.15%, respectively, at 3:14 a.m. EST, December 4.
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Wall Street’s positive investor sentiment was boosted by stronger-than-expected October Job Openings and Labor Turnover Survey (JOLTS) report, which showed a rise in job openings and quits. The report indicates a strong labor market and growing optimism for an interest rate cut later this month.
In major stock market news, AT&T (T) stock gained 4.6% following the announcement of a new strategic plan. Further, Palantir (PLTR) climbed 6.9% after its products and services gained approval under a U.S. government initiative for secure cloud computing.
On the economic front, investors are awaiting the release of the Services Purchasing Managers’ Index (PMI) report for November. This data helps economists gain insights into future economic conditions, as changes in PMIs usually precede changes in the overall economy.
Also, traders will closely watch the private payroll data from Automatic Data Processing (ADP) due today. Plus, Fed Chair Jerome Powell is set to speak today and might offer fresh insights into the central bank’s monetary policy.
Today, Chewy (CHWY), Dollar Tree (DLTR), ChargePoint (CHPT), Synopsys (SNPS), SentinelOne (S), and Foot Locker (FL) are scheduled to report earnings today.
Meanwhile, the U.S. 10-year treasury yield was up, floating near 4.246% at the time of writing. At the same time, WTI crude oil futures are trending higher, hovering near $70.14 per barrel as of the last check.
Elsewhere, European indices opened slightly higher on Wednesday morning as investors awaited a no-confidence vote in France’s parliament.
Asia-Pacific Markets Ended Lower on Wednesday
Most of the Asia-Pacific indices were in the red today as investors digested the political situation in South Korea. It must be mentioned that the country’s President Yoon Suk Yeol declared martial law on Tuesday. However, this decision was reversed after the National Assembly voted against it.
Hong Kong’s Hang Seng Index declined 0.05%. Also, China’s Shanghai Composite and Shenzhen Component indices slipped 0.42% and 1.02%, respectively. Further, Japan’s Topix index fell 0.47%, while the Nikkei index gained 0.07%.
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