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Stock market today: S&P 500, Nasdaq futures rise ahead of Fed minutes, jobs review

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Winning Streak News

Federal Reserve,Labor Market,Quarterly Reports

Investors marking time before Jackson Hole will get Fed minutes and jobs data revisions that could shift the needle on rate cut bets.

US stocks were poised for small gains on Wednesday after snapping their longest win streak this year, as investors waited for Federal Reserve minutes and jobs data likely to shape bets for interest-rate cuts. S&P 500 futures were up roughly 0.2% after the benchmark index closed slightly lower to snap an eight-day winning streak. Futures on the Dow Jones Industrial Average and the tech-heavy Nasdaq 100 were also both up about 0.2%.

But overall, investors are treading cautiously ahead of Jerome Powell's appearance at the Jackson Hole symposium on Friday. Expectations for a September rate cut are running high, and his comments will be closely watched for signs a 0.5% reduction is on the table. On Wednesday, the market is bracing for preliminary revisions to labor data for the year through to March.

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