Wall Street was holding steady early Thursday ahead of the government’s latest data release on the labor market, a day after a private survey showed that the U.S. economy lost jobs last month.
Futures for the S&P 500 and the Dow Jones Industrial Average each ticked up 0.1% before the opening bell. Nasdaq futures were unchanged.
On Wednesday, markets rose to near record levels after the private payroll data firm ADP estimated U.S. job losses of 32,000 in November.
The surprisingly weak report from ADP may be discouraging for people looking for jobs, but it bolstered expectations that the Federal Reserve will cut its main interest rate next week. If the Fed does, it would be the third cut of the year in hopes of supporting a slowing job market.
While the government’s weekly jobless claims report due later Thursday doesn’t generally move markets, it may carry more heft this week. That’s because the more comprehensive November jobs report won’t come out until after the Federal Reserve decides on interest rates next week. That report was delayed due to the government shutdown.
Investors love lower interest rates because they boost prices for investments and can boost the economy. The downside is that they can fuel inf