Cautious Optimism as U.S. Stocks Waver Amid Employment Concerns

U.S. stock index futures remained flat as investors awaited a crucial revision in employment data that could result in a significant job count slash. Traders anticipate a possible interest rate cut by the Federal Reserve. Significant stock movements included gains by Nebius and M&A activity involving Teck Resources and Tourmaline Bio.

On Tuesday, U.S. stock index futures showed little movement following near-record closing highs in the previous session. Cautious traders awaited a critical employment rate revision, which might indicate a substantial job count reduction.

The Bureau of Labor Statistics is set to release its nonfarm payrolls estimate, potentially revising U.S. employment figures downward by up to one million jobs. The labor market's recent weakness has prompted investors and the Federal Reserve to consider potential interest rate adjustments, with a 25-basis-point cut widely expected.

In the tech sector, Nebius soared by 49% after securing a $17.4-billion agreement with Microsoft, while CoreWeave climbed 6.1%. Also notable were Teck Resources' merger with Anglo American and Novartis' acquisition of Tourmaline Bio, leading to significant premarket stock gains.

(With inputs from agencies.)