U.S. Stock Market Awaits Key Fed Decisions Amid Record Highs

U.S. stock index futures remained steady after the S&P 500 and Nasdaq hit record highs. Investors await a crucial jobs report and Federal Reserve commentary. Analysts remain uncertain about interest rate cuts amid Trump's re-election and potential fiscal policy shifts.

On Tuesday, U.S. stock index futures appeared steady following record-high closings for the S&P 500 and Nasdaq. Focus is set on the upcoming jobs report and Federal Reserve inputs, elements seen as crucial in assessing possible adjustments to interest rates.

October's Job Openings and Labor Turnover Survey (JOLTS) report, expected later in the day, will precede the eagerly awaited monthly payroll figures. These metrics are pivotal for understanding the Federal Reserve's rate trajectory. Societe Generale analysts pointed out that surging inflation has led markets to reprice policy prospects for 2025.

Political changes also weigh on market dynamics, as Trump's recent re-election alongside a Republican Congress may result in policy shifts, including potential tax cuts and deregulation. However, concerns over tariffs and a trade war cloud the outlook, impacting sector-specific stocks like Zscaler, Tesla, and U.S. Steel.

(With inputs from agencies.)