Stock Market Today: Dow, S&P 500, Nasdaq Futures Edge Higher Ahead of Key ADP Jobs Data

With investors getting ready for the important ADP private-sector employment report which they expect to clarify the future course of interest rate cuts by the Federal Reserve next week, US stock futures went up on Wednesday.

Futures that are linked to the Dow Jones Industrial Average and S&P 500 increased about 0.2%, while Nasdaq 100 futures contributed 0.1% in the first session. The rise comes after Tuesday's upturn of a wide range of stocks and indicates a change in market mood once the uncertainty caused by volatility has dissipated.

Bitcoin also managed to gain more ground and eventually reached a two-week high of over $93,000 before it was cut back. The digital currency is trying to make a comeback after a long bear market pushed prices as low as $83,000 earlier in the week.

Markets On Fed Policy & Key Economic Indicators

The markets are still very much concentrated on the Federal Reserve's meeting next Wednesday and are almost fully expecting a rate cut, putting the odds at 88% The Fed Chair Jerome Powell has admitted to big differences among the policymakers which makes the new data releases even more critical.

The ADP employment report, which is going to be out at 8:15 a.m. ET, is likely to give an important indication about the strength in the labour market, especially since the government’s official nonfarm payrolls report has been delayed due to the recent shutdown.

Furthermore, the investors are monitoring private-sector surveys of the November services activity as a source of inflation signals. The next official inflation update called the PCE index is arriving on Friday.

Corporate Earnings: Marvell, AEO Soar; CrowdStrike Slips

On Wednesday, the attention was still mainly on the earnings:

• Marvell Technology (MRVL) premarket increased by over 10% after its earnings far exceeded analysts' expectations and also at the same time announcing the acquisition of Celestial AI for $3.25 billion which will strengthen its position in next-gen AI infrastructure.
• American Eagle Outfitters (AEO) was up more than 12% as a result of good Q3 earnings and the “record-breaking” Thanksgiving weekend.
• CrowdStrike (CRWD) shares fell despite the company providing a bright quarterly outlook.
• Results from Salesforce (CRM), Macy’s (M), and Dollar Tree (DLTR) are expected later on in the day.

Macy’s Shares Drop on Weak Sales Outlook

Macy’s had a decline of over 7% in premarket trading, after it gave its annual sales prediction which was below last year's levels and thus overshadowed its strongest comparable sales performance in three years. Net sales fell a bit to $4.71 billion, but this was still better than what analysts expected.

Bitcoin’s Fragile Recovery Continues

Bitcoin went up to its highest price in the last two months, since November 17. Nevertheless, the analysts caution that the mood is still very delicate as over $1 trillion has been lost in the crypto markets since October.

Silver Hits Record High

Silver’s price peaked at a new high of $58.94 per ounce due to the markets' anticipation of lower US borrowing costs and the tightening as well as the growing demand for the product. On Tuesday, there was a 200-ton increase in investment in silver-backed ETFs.

Anthropic Prepares for Potential 2026 IPO

AI startup Anthropic, which is already backed by Google and Amazon, has apparently started taking steps to prepare for a potential initial public offering (IPO) in 2026. However, the firm has not settled on any schedule yet, as it has only retained Wilson Sonsini to look into its listing options.