Markets Hold Gains as Wall Street Eyes Labor Data and Tariff Fallout

​U.S. stock futures nudged higher Thursday morning as Wall Street awaited fresh labor data and more clarity on President Trump’s evolving tariff agenda.

Dow futures rose 0.2%, while the S&P 500 and Nasdaq 100 each edged up about the same. The gains came after Wednesday’s rally lost steam, weighed down by weak private-sector hiring figures and a slowdown in the services sector, which stoked concerns that Trump’s aggressive trade policy may be cooling economic momentum.

Traders are now laser-focused on upcoming indicators: initial jobless claims, the Challenger job cuts report, and key measures of productivity and labor costs—all expected ahead of Friday’s May jobs report, which economists say will offer the clearest picture yet of how the labor market is reacting to shifting trade conditions.

On the corporate front, earnings reports from Lululemon and Broadcom are on deck. Investors will be watching to see whether strong consumer brands and chipmakers are managing to hold up against a backdrop of economic uncertainty and tariff threats.

Meanwhile, business sentiment has taken a hit. According to a recent survey, executive confidence in the U.S. economic outlook dropped sharply from 67% in Q4 2024 to just 27% in May 2025. Executives cite delayed hiring, scaled-back investments, and tariff-related uncertainty as major factors. Nearly 20% believe the U.S. is already in a recession, and another third expect one by year-end.

Bottom line: Stocks are holding ground for now, but caution is rising. With economic data piling up and trade pressures intensifying, markets are poised for a potential volatility surge if Friday’s labor numbers disappoint.







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