US stocks are expected to open higher as investors analyze the latest jobs report and await inflation data. Futures for the S&P 500 and Nasdaq 100 are up 0.3%, while Dow Jones lags at 0.2%. Stocks ended the previous session flat, with S&P at 6,941, Dow at 50,121, Nasdaq at 23,066, and Russell 2000 at 2,669.

The non-farm payrolls report showed 130k payrolls additions, beating forecasts but offset by a 862k write-down for 2025 jobs. Unemployment rate dipped to 4.3%, wages up 0.4% monthly and 3.7% annually – outpacing inflation. Stocks initially surged and bonds sold off on the strong data, indicating the Fed may hold off on rate cuts.

Fed speakers caution against immediate rate cuts, citing the need to let prior cuts take effect. President Trump’s push for cuts faces resistance, causing investors to rethink the situation. Questions arise on how to build consensus within the FOMC to lower rates, as the committee appears divided.

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