Stock Market Today: Dow, S&P 500, Nasdaq Futures Pause as Investors Await Delayed US Jobs Report

US equity futures traded complacently on a Tuesday as the main focus in New York City was on the recently delayed nonfarm payrolls—the key economic indicator to set the tone for the much-touted interest rate expectations of 2026.

Dow futures traded well within the narrow range of an obscure zone, while S&P 500 futures traded at 0.1%. There was a 0.2% drop in Nasdaq futures on a weakening technology area that also resulted in negative territory crossing into US benchmarks since last week.

Tech stocks under pressure

Tech stocks were among major decliners following the concerns related to AI spending, which resurfaced since the lackluster earnings report on major tech names like Oracle and Broadcom. Investor attitude has cooled regarding AI-focused names, adding weight to the Nasdaq in the last few sessions.

A pre-market trade in Broadcom shares continued for a fourth straight day, feeding into the negativity. A surprising quarterly profit could not lift the spirits of the market leaders who had turned their backs on the immense artificial demand backlog, pressing shares down further in the deepest dive during the last three days since March 2020.

The eagerly awaited jobs report in November - the reports got delayed due to the recent government shutdown - is now getting the entire focus. It is seen to fill an industry-wide void in economic data and provide feedback on the Federal Reserve's outlook.

Economists expect a slow 40,000-job increase in November payrolls, bringing the unemployment rate down to 4.4%. Data for both October payrolls will come to the fore. However, these numbers are not expected to be any more than partial, because the shutdown naturally limited the ongoing data gathering activities concerning the jobs.

More evidence has since accumulated about trading activity on two rounds of Fed liftoff target cuts in 2026. From headlines suggesting a heightened focus growing on labor market developments at the expense of stubbornly upward inflation, it would seem that becoming a key cornerstone in the shape of upcoming low-shocks dependent like weekly job releases and information on inflation Monday and Friday.

More data on economic balance:

In addition to job data, markets await the following indicators:

Delayed October volume sales statistics

Random, flash readings of US manufacturing and service sector data for December

Consumer inflation to be reported tomorrow for November

Right now, those combined, including opinion reflected in remarks by Fed Chair Jerome Powell, are what the central bank terms “tons of data” to digest before that policy meeting due and happening Monday, January 21.

Major corporate releases ahead

Ford shares surged in pre-market trading after the announcement by the automaker of a $19.5 billion charge, thereby underlining its commitment to move away from electric vehicles, while Kraft Heinz added marginally after announcing the appointment of Steven Cahillane, a former Kellanova CEO as its next chief executive on January 1, 2026.

Later in the day, investors will watch for Lennar earnings after the market closes.

Oil on decline, worry abates

Emphasizing the continuing trend of price declines in oil is the growing supply and hope of a positive development on peace talks in Ukraine. September Brent crude futures slipped further under $60 a barrel, while WTI crude futures held just above $56. If energy prices fall more widely, there could be some relief to central banks in combating the initial inflation pressures, though it would overwhelm economies that have oil as their major source of earning.

Bottom line: market cautiousness on equities lapping; postponed by the delayed US jobs report, while assumption hangs on evidenced direction in the coming sessions. Market's cautiousness is delayed on the potential future of the Federal Reserve; trades seem to be made out of this in the coming sessions.