Nasdaq and Dow Jones seen rising ahead of delayed jobs report

US futures were modestly affirmative successful aboriginal greeting trading connected Wednesday, with the marketplace waiting for the delayed January non-farm payrolls report.

Unless the jobs information upsets the pome cart, the Dow Jones is acceptable to marque further steps into record territory, with futures up 0.1%.

S&P 500 futures were besides up 0.1%, portion those for the Nasdaq 100 were up 0.2%.

This followed a mixed adjacent a time earlier, with the Dow notching its 3rd consecutive grounds close, finishing up 52 points oregon 0.1% astatine at 50,188.

The S&P 500 fell 0.3% to 6,942, the Nasdaq ended down 0.6% at 23,102, and the Russell 2000 mislaid 0.4% to adjacent astatine 2,679.

This came connected the backmost of slower US retail income data, which added caution to an different beardown net season.

Ahead of the jobs report, which is owed astatine 8.30am ET, the dollar was soft, with the DXY scale down 0.1% astatine 96.72.

Crude was stronger, up 2.1% astatine $65.32 a tube of West Texas Intermediate. Gold, metallic and copper were each higher too.

The delayed NFP study is expected to amusement that 66,000 jobs were created past month, up from 50,000 successful December.

Traders person to "weigh up whether a deterioration successful the jobs marketplace would beryllium capable to unit the manus of Powell earlier helium leaves successful May", said marketplace expert Joshua Mahony astatine Scope Markets.

"Whilst that remains the little apt outcome, markets are presently pricing a 40% accidental that we spot the Fed easiness successful either March oregon April."

He noted that immoderate connected to the White House, namely representatives Peter Navarro and Kevin Hassett, person tried to "dial down expectations" for today’s report.

"Notably, the weakness of the jobs marketplace does alert successful the look of the awesome 4.4% GDP complaint seen for Q3, with a chiseled divergence betwixt economical maturation and employment trends."

For markets, Mahony said the declines seen successful the US dollar item "both a shifting communicative astir a imaginable chopped nether Powell and the imaginable of a dovish Warsh".

A anemic NFP followed by anemic ostentation connected Friday "would undoubtedly propulsion the Fed person to a cut".