FX.co ★ US Futures Rise Modestly

On Thursday, futures contracts for the three major U.S. stock indices experienced a slight uptick of nearly 0.2%, as investors evaluated a variety of economic indicators. Initial jobless claims rose unexpectedly to 247,000—marking the highest point since October of last year—suggesting a potential easing in the labor market. Concurrently, the trade deficit contracted significantly to hit its lowest point in 2023, primarily due to a marked decline in imports after the announcement of new tariffs. Furthermore, labor costs increased more than previously anticipated, raising concerns about inflation. Investors are now eagerly awaiting Friday's pivotal jobs report for further insight into the robustness of the labor market. During premarket trading, performance among large-cap stocks varied: Microsoft rose by 0.3%, Apple increased by 0.6%, Amazon climbed by 1.6%, Meta advanced by 0.6%, and Alphabet gained 1.6%, whereas Nvidia remained relatively unchanged. Tesla's stock declined by approximately 3%, influenced by slower sales in Europe and CEO Elon Musk's open criticism of President Trump's tax legislation.