Dow, S&P 500, Nasdaq futures trade flat with jobs data set to test early

US stock futures were little changed overnight after Wall Street pushed deeper into record territory during Tuesday’s session and awaited a possible heat check in the form of the first labor market report that will kick off a week full of jobs signals.

Dow Jones Industrial Average futures (YM=F) hovered slightly higher. Futures attached to the S&P 500 (ES=F) and Nasdaq 100 (NQ=F) traded flat.

Stocks rallied during regular trading Tuesday as investors largely brushed aside geopolitical concerns following US military action in Venezuela over the weekend. The Dow Jones Industrial Average (^DJI) crossed the 49,000 mark for the first time, clinching its second consecutive record high. The S&P 500 (^GSPC) also finished at a record high, as it begins to flirt with the 7,000 mark.

Looking ahead, attention is now shifting toward a packed slate of economic releases, as the flow of US data begins to normalize after recent disruptions. Data released Tuesday showed the US services sector lost momentum in December, with S&P Global’s final Services PMI marking the slowest pace of expansion in eight months.

On Wednesday, jobs data takes focus, with the release of the ADP’s monthly report on private sector employment. That report has shown negative growth in three of the past four months, though forecasts call for modest growth this time. Meanwhile, investors will also get a peek at November’s JOLTS data, showing the number of job openings in the market, as well as the number of Americans who quit or were laid off.

Those reports set the stage for Friday’s December jobs report, which has taken on critical importance as investors viewing it as a key test of whether the economy is cooling enough to justify Federal Reserve policy changes in the months ahead.

Meanwhile, the CES 2026 show continues to provide food for thought as heady promises from tech leaders clash with Wall Street expectations of what the sector can achieve. Discussion has centered on Nvidia (NVDA), as analysts diverge on whether the company is at the popping point of a bubble or at the beginning of a second sweltering run.