US stock futures moved higher on Thursday morning after Wall Street ended a three-day losing streak. Investors were watching the latest developments in the Middle East as well as fresh earnings from major technology companies, including Broadcom and Snowflake.
Dow Jones futures rose 0.2%, while S&P 500 futures gained 0.1%. Nasdaq-100 futures were also up about 0.2%, showing a small recovery after US stocks had fallen for three straight sessions, according to Yahoo Finance.
Oil prices stay high
Investors were also watching oil prices closely. Oil prices moved slightly lower on Thursday, but Brent crude remained above $95 a barrel, keeping concerns about inflation and higher energy costs in focus.
Middle East tensions remained a major market concern. President Donald Trump said on Wednesday that the US had carried out a “very heavy attack” against Iran, but also said the attack would not take “too long,” according to Yahoo Finance.
The renewed conflict is raising fresh worries about inflation. Higher oil prices can increase costs for businesses and consumers, which could make it harder for the Federal Reserve to lower interest rates quickly.
US jobs data in focus
However, investors are now turning more attention to the US labor market. A series of jobs-related data releases this week will give markets more clues about the strength of hiring and the health of the US economy ahead of Friday's closely watched jobs report.
{{/usCountry}}However, investors are now turning more attention to the US labor market. A series of jobs-related data releases this week will give markets more clues about the strength of hiring and the health of the US economy ahead of Friday's closely watched jobs report.
{{/usCountry}}Layoff data is due Thursday morning. Outplacement firm Challenger, Gray & Christmas is scheduled to release its latest report on announced job cuts, giving investors a fresh look at layoffs across US companies.
Weekly unemployment benefit applications will also be watched. The data from the US Bureau of Labor Statistics will provide another signal about whether layoffs and unemployment are increasing or remaining under control.
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Interest rates remain key
The jobs data could influence expectations for US interest rates. If the labor market shows signs of weakening, investors could become more hopeful about rate cuts. But strong employment data could keep interest rates higher for longer.
High borrowing costs are already putting pressure on parts of the economy. The 10-year US Treasury yield was trading near 4.8%, according to The Morning Bull, keeping mortgages, car loans and corporate borrowing expensive.
Higher Treasury yields are especially important for rate-sensitive stocks. Housing-related companies, highly leveraged industrial businesses and small-cap stocks could face more pressure if borrowing costs remain high for longer, according to The Morning Bull.
US manufacturing still grows
Factory activity data showed that the US manufacturing sector is still growing. The S&P Global US Manufacturing PMI came in at 53.9, while the ISM US Manufacturing PMI stood at 54.6.
But the manufacturing numbers also showed some pressure underneath the growth. New orders were slowing and costs were rising, raising questions about whether inflation from energy prices and tariffs could continue to put pressure on interest rates, according to The Morning Bull.
Tech earnings draw attention
Technology earnings are another major focus for investors. Results from companies such as Broadcom and Snowflake are being watched for signs of continued demand for artificial intelligence and other technology products, according to Yahoo Finance.
Several other major companies are also reporting earnings. Lululemon Athletica, DocuSign and Campbell's Company are among the notable companies scheduled to report quarterly results Thursday.
Some individual stocks were making much bigger moves than the wider market. Dell Technologies jumped 15.81% after the company reported strong earnings, raised its guidance and received several analyst price-target increases, according to The Morning Bull.
AST SpaceMobile also gained sharply. Its shares rose 11.83% after fresh analyst coverage gave the company a bullish rating and pointed to its longer-term growth potential. Reddit was another major gainer. Reddit shares climbed 9.31%.
Biggest stock movers
Credo Technology was among the biggest losers. Its shares dropped 20.04% after several brokers lowered their price targets, even though the company reported strong first-quarter earnings and guidance, according to The Morning Bull.
MongoDB shares fell 13.54%. Investors were disappointed by slower growth in its Atlas cloud business and softer guidance, even though the company still beat expectations.
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Palo Alto Networks also declined. The cybersecurity company's shares dropped 9.28% after its fourth-quarter results and guidance received mixed reactions from analysts, according to The Morning Bull.
Investors are being urged to look beyond individual stock moves. Sharp rises or falls can reflect changing expectations about a company's future rather than just one earnings number.
The main market question on Thursday is still interest rates. Investors are trying to understand whether high energy prices, tariffs and inflation will keep borrowing costs elevated, especially with the 10-year Treasury yield near 4.8%.
US jobs data, tech earnings in focus
US labor data will remain a key market driver. Thursday's jobs-related releases and Friday's payrolls report could give investors a clearer picture of hiring, wages and overall economic strength.
Ciena is also on the earnings radar. The telecom networking company is scheduled to report third-quarter results before the market opens Thursday, with investors likely to focus on orders, profit margins and customer spending, according to The Morning Bull.
Zscaler will report after the market closes. Investors will watch the cybersecurity company's fourth-quarter results for subscription growth, billings and its outlook for future demand.
Samsara is another company reporting after the close. Its second-quarter results will put attention on recurring revenue, new customers and cash spending, according to The Morning Bull.
Overall, US stock futures were pointing to a cautious recovery rather than a major rally. Investors are balancing hopes of a rebound in stocks with concerns about the Middle East conflict, oil prices, inflation, high Treasury yields and the strength of the US labor market.