US stock indexes closed mostly higher on Monday, starting the new week on a positive note ahead of crucial jobs data later this week. The S&P 500 index gained 31.3 points, or 0.5%, while the NASDAQ Composite rose 237.6 points, or 1.2%. However, the Dow Jones Industrial Average was slightly down.
The Federal Reserve’s top official, Michael Barr, is planning to step down from his role, with a successor expected to be confirmed by February 28, 2025. The Fed meeting minutes and jobs data are due this week, which could further gauge the central bank’s interest rate outlook.
Markets await the release of the December jobs report on Friday, which is expected to show that the US economy added 154,000 jobs in December while keeping the unemployment rate steady at 4.2%. Other key economic indicators, such as ISM services PMI and factory orders, are also scheduled for release this week.
President-elect Donald Trump’s tariff plan has been making headlines, with reports suggesting it may be narrower than initially thought. However, Trump has denied any plans to pare back his tariffs.
Crude oil prices fell 0.7% on Monday, awaiting key economic data later in the week. The US crude futures (WTI) dropped to $73.47 a barrel, while the Brent contract rose to $76.23 a barrel.
Source: https://www.investing.com/news/stock-market-news/us-stock-futures-steady-after-tech-gains-buoy-wall-st-focus-turns-to-jobs-data-3796325