Futures for the Dow, and Nasdaq Climb as Trembling Wall Street is Awaiting the Employment Report
In the face of market turbulence brought on by President Donald Trump’s erratic trade policies, US stock futures rose as Wall Street prepared for the February employment report.
The Dow Jones Industrial Average (YM=F) futures saw a 0.2% increase. Futures linked to the tech-heavy Nasdaq Composite (NQ=F) increased by 0.5%, while those related to the benchmark S&P 500 (ES=F) increased by 0.3%.
Stocks plunged to session lows despite Trump’s announcement on Thursday that he would halt tariffs on several products from Canada and Mexico. Mexico has not yet disclosed how it will respond to the taxes, while Canada announced it will postpone a second round of retaliatory penalties.
Since Marvell (MRVL) released a pessimistic projection that sent its stock plunging and pulled shares of other chipmakers, notably Nvidia (NVDA), down with it, Wall Street has been plagued by fear over waning AI demand and tariff issues.
Better news on the AI market was provided to traders after the bell. Broadcom’s shares (AVGO) surged after the company’s second-quarter earnings showed a promising outlook. During after-hours trade, Nvidia and Marvell steadied.
The week will peak on Friday with the release of February’s job data. Economists generally concur that the data won’t validate concerns about slowing economic growth, even if it comes at a vulnerable time for markets. It is anticipated that while the employment rate remained stable, hiring increased.
