US stock futures little changed as investors await key jobs report
Pressure on House to pass Trump’s ‘Big Beautiful Bill’ by July 4 deadline
The pressure is one for House Republicans to pass President Trump’s massive tax cuts and spending bill by his July 4 deadline.
Fox – 32 Chicago
U.S.. stock futures are little changed as investors await key monthly jobs data due before the opening bell.
The economy’s expected to have added 110,000 jobs last month with the unemployment rate inching up to 4.3%, according to economists’ mean estimate in a Dow Jones poll. That compares with May’s 139,000 new jobs and 4.2% jobless rate.
Economists are split on whether the slowing job market is a sign of economic distress.
Partly because of seasonal factors, Bank of America U.S. economist Shruti Mishra said she believes “the labor market is moderating rather than deteriorating.”
At 6 a.m. ET, futures linked to the blue-chip Dow added 0.06%, while the broad S&P 500 gained 0.06% and the tech-laden Nasdaq rose 0.10%.
Trade hopes and tax bill
Investors also will keep an eye on trade negotiations and One Big Beautiful Bill progress in the House of Representatives.
The S&P 500 and Nasdaq each scored record highs after President Donald Trump said in a social media post that the U.S. had struck a trade deal with Vietnam. The deal includes a 20% tariff on imports from the country. Goods that originated in another country but were transferred to Vietnam for final shipment to the U.S. will be levied 40%.
After the bell, chip software maker Synopsys and Cadence said the U.S. government has rescinded its export restrictions on chip-design software to China.
Both these moves eased fears over prolonged trade tensions and tamed inflation fears. Economists had predicted inflation could spike higher if Trump enacted his highest tariffs.
Meanwhile, the House continues to debate the One Big Beautiful Bill to try to get it to the president’s desk by July 4. The bill’s expected to face a tight vote as some House members remain critical of Medicaid and food assistance cuts as well as the cost of the bill.
Medora Lee is a money, markets, and personal finance reporter at USA TODAY. You can reach her at mjlee@usatoday.com and subscribe to our free Daily Money newsletter for personal finance tips and business news every Monday through Friday.
