Stock Market Today: Dow, S&P 500, Nasdaq Futures Hold Steady as Wall Street Bets on December Rate Cut

US stock futures traded steady on Thursday as Wall Street digested fresh labor market data and strengthened expectations that the Federal Reserve may deliver a rate cut in December.

Futures Show Mild Movement as Traders Await Fed Signals

Futures for the Dow Jones Industrial Average moved slightly above the flatline, whereas futures for the S&P 500 and Nasdaq 100 remained at levels very close to unchanged. This happened after US stock exchanges finished the day on Wednesday with little profits.

As per the CME FedWatch data, there was a huge increase in investor's expectations for a rate cut that rose to 89% after an ADP private payrolls report that was softer-than-expected. The increasing belief that the Federal Reserve is moving toward monetary easing has been a major factor in lifting the overall market sentiment.

Fed Leadership Speculation Adds to Market Buzz

Speculation that Kevin Hassett could replace Jerome Powell as the next Federal Reserve Chair is also contributing to the rate-cut narrative. Hassett — known for his dovish stance and backed by President Trump — is expected to favor rapid monetary easing. However, reports indicate skepticism among markets and concerns raised by bond investors to the US Treasury.

Mixed Labor Market Signals Ahead of Key PCE Data

Thursday’s jobless claims report showed an unexpected drop in unemployment filings, even as another industry report revealed the worst November for corporate layoffs in three years. Investors now await Friday’s delayed September PCE inflation report, the Fed’s preferred measure of price pressure, which could further influence rate-cut expectations.

Earnings Movers: Salesforce Jumps, Snowflake Slides

As earnings season winds down:

• Salesforce (CRM) saw shares rise after posting an improved outlook that beat analyst forecasts.
• Snowflake (SNOW) tumbled after its revenue guidance disappointed investors, despite deepening its partnership with AI developer Anthropic.
• Retail giants Dollar General (DG) and Kroger (KR), along with Hewlett Packard Enterprise (HPE), are also set to provide fresh insights into consumer resilience and enterprise spending.

Kroger Shares Dip on Slower Growth

Kroger stock slid over 3% in pre-market trading after the company reported flat year-over-year revenue at $33.9 billion — below expectations. Same-store sales grew 2.6%, but analysts warn of intensified competition as Amazon and Walmart ramp up their grocery market strategies.

Bitcoin Volatility Continues Into Year-End

Bitcoin is heading into 2026 with renewed interest but familiar volatility. After a steep drop in November, the cryptocurrency has rebounded slightly, though analysts note that its “digital gold” reputation remains tested. Despite broader acceptance from financial institutions, crypto markets remain highly sensitive to investor sentiment.