FX.co ★ US Futures Waver after Weak ADP Data

On Wednesday, U.S. futures showed minimal movement, with contracts across the three major indexes remaining largely unchanged as investors analyzed the latest labor market data. The ADP report revealed an unexpected drop in private sector employment for June, while wage growth held steady. This data further supports the possibility of Federal Reserve rate cuts but also raises concerns about a potentially faster-than-expected cooling of the labor market. Attention is shifting to the official jobs report set for release tomorrow. Meanwhile, market participants are keeping an eye on trade negotiations, with President Trump increasing pressure on Japan. Concurrently, the new spending bill remains a key topic, following its narrow passage in the Senate and subsequent return to the House for further deliberation. In premarket trading, megacap stocks experienced declines, including Nvidia (-1.2%), Microsoft (-0.7%), Amazon (-0.7%), Meta (-0.8%), Broadcom (-0.8%), and Alphabet (-0.5%).