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Stock market today: US futures slip back with jobs data front of mind

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US Stock Futures News

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Investors cautiously weighed the rate-cut odds ahead of crucial June jobs data, with Powell comments on deck.

US stock futures retreated on Tuesday as investors cautiously weighed the rate-cut odds ahead of crucial jobs data and eyed what higher chances of a Trump win could mean for markets. Dow Jones Industrial Average futures and S&P 500 futures both fell roughly 0.4%, after the gauges eked out small closing gains to kick off the third quarter. Contracts on the tech-heavy Nasdaq 100 led the way lower, down about 0.5%.

Jerome Powell is due to speak at an ECB meeting on Tuesday, and investors will listen closely for the Federal Reserve chair's view of progress on inflation and the state of the labor market. Also on deck is a reading on weekly job openings, which will similarly feed into expectations for interest-rate cuts.

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