United States stock futures edged higher on Tuesday evening (Wednesday AEDT) as investors turned their attention to the release of the delayed January nonfarm payrolls report.
By 10:50 am AEDT (11:50 pm GMT) Dow futures, S&P 500 futures and Nasdaq 100 futures were up 0.2% apiece.
In extended trading, Robinhood fell about 8% after the trading platform reported fourth-quarter revenue of $1.28 billion, below expectations of $1.35 billion. Earnings per share (EPS) were reported at $0.66 versus $0.63 expected.
Ford Motor rose 0.6% in after-hours trade. The carmaker reported fourth-quarter automotive revenue of $42.4 billion, topping the LSEG consensus estimate of $41.83 billion. Nevertheless, Ford posted its widest quarterly earnings miss in four years, delivering adjusted EPS of $0.13 versus $0.19 anticipated.
Mattel tanked 29.5% after issuing Fourth-quarter results that missed expectations on both revenue and profit. EPS came in at $0.39 versus $0.54 expected on revenue of $1.77 billion versus $1.84 billion expected.
By contrast, Cloudflare surged 14.4% in extended trading after offering an upbeat outlook, and the company exceeded forecasts on both the top and bottom lines for the fourth quarter.
Investors are now focused on the Bureau of Labor Statistics’ (BLS) January nonfarm payrolls report, which was delayed by a partial government shutdown that ended on 3 February.
Economists expect the data to show only modest hiring. Markets are expecting a gain of around 70,000 jobs for January, compared with an increase of 50,000 in December. The unemployment rate is forecast to hold at 4.4%.
Traders will also scrutinise any revisions from the BLS, which could offer further insight into the underlying strength of the U.S. labour market and broader economy.
A weaker-than-expected jobs print could add to negative sentiment already stirred by soft consumer data earlier in the week. On Tuesday, a report showed that U.S. retail sales were flat in December, missing expectations for a 0.4% monthly increase.
During the regular session, the S&P 500 fell 0.3% as concerns about artificial intelligence’s potential impact on the financial services sector weighed on sentiment.
After tech platform Altruist unveiled a new AI-powered tax planning tool, several financial stocks retreated. The Nasdaq Composite declined around 0.6%.
The Dow, however, managed to edge 0.1% higher, marking another all-time high and closing record.
Beyond the jobs report, markets will also be watching for further economic indicators later in the week. The consumer price index, a key measure of inflation, is due on Friday (Saturday AEDT), and is likely to play a central role in shaping expectations for the Federal Reserve’s next policy moves.
