U.S. stock futures edged higher in premarket trading on Wednesday, as investors awaited the January jobs report, which had been delayed by the partial U.S. government shutdown that ended on February 3.
Traders hope that the new data and revisions to previous figures will give a clearer picture of the state of the labor market and economic trends in the United States.
Limited movements in futures contracts
Futures traded near flat levels in early trading, with a slight rise reflecting investor caution ahead of the official figures. Dow Jones Industrial Average futures reached 50,307 points, a marginal increase of 0.07% or 34 points.
Standard & Poor's 500 futures contracts rose by 0.08% to reach 6,966.75 points.
Meanwhile, Nasdaq 100 futures contracts recorded an increase of 0.12% or 30.50 points, to trade at 25,248.50 points.
Impact of the jobs report on the markets
These moves come as markets await the jobs report, which could provide important clues about the Federal Reserve’s direction regarding interest rates and future monetary policies.
The employment data could affect investors' expectations regarding the strength of the US economy and labor market after a slowdown in hiring in recent months.
Investors were warned ahead of the data release.
While traders await the release of the report, investors are taking a cautious stance, holding onto limited gains in futures contracts, waiting for any signals that might change market dynamics once the official figures are announced later in the day.
