From Nasdaq.:

U.S. stock index futures tick up, recovering from a gloomy start to the year. Wall Street stumbled in the first two sessions of 2024, after a grim year-end rally, causing the S&P 500 its worst two days since October. Investors eagerly await an interest rate cut and economic data for indicators.

The latest minutes from the US Federal Reserve offer no clues as to when the easing might commence, after hopes that Fed could start interest rate cuts this year drove gains in 2023. U.S. Treasury yields rise, and traders expect a 72.6% chance of a rate cut in March and a near 96% probability for May. In the interim, investors await the ADP National Employment Report due at 8:15 a.m. ET and a critical jobs report on Friday.

Futures for Dow, S&P 500 and Nasdaq are up, traders see a probability of rate cuts in following months. ADP National Employment Report and a critical jobs report on Friday will provide indicators of market health and influence expectations on rate trajectory.

Traders expect private payrolls to increase in December. Apple is the only megacap stock in the red, Intel rises after brokerage upgrade its recommendation on the chipmaker to “overweight.” Other semiconductor stocks also recover from a recent downturn.

Other movers, including Nike, Foot Locker, Mattel, Fubotv and Nexstar Media, rise and fall after various developments. Cocoa growers in Ghana and Ivory Coast agree to sell the 2024/2025 cocoa season at $400 premium.



Read more: US STOCKS-Futures edge up ahead of jobs data, Apple slips