Traders work on the trading floor of the New York Stock Exchange.
Stock index futures edged higher on Wednesday night as investors looked ahead to the September non-farm payrolls report later this week.
Futures and Dow Jones Industrial Average An increase of 40 points, or less than 0.1%. S&P 500 Index Futures rose 0.1%, while Nasdaq 100 Futures Up about 0.2%.
In after-hours trading, denim makers Levi Strauss Shares plunged nearly 10% after mixed third-quarter results. The company also announced it was considering selling its Dockers business, which weighed on the overall business.
October trading got off to a slow start this month as rising tensions in the Middle East dampened investor enthusiasm. Stocks plunged on Tuesday after Iran launched missile attacks on Israel. Investors are bracing for further uncertainty as Israel begins ground operations in Lebanon.
The three major U.S. stock indexes closed slightly above their flat lines on Wednesday. The S&P 500 rose just 0.01%, while the tech-heavy Nasdaq rose 0.08%. The Dow Jones Industrial Average rose about 39 points, or 0.09%.
Data released by ADP on Wednesday showed private sector hiring was better than expected in September.
Further labor market data awaits investors on Thursday as initial jobless claims are released. The most important event for traders and the Federal Reserve, which has begun its rate-cutting cycle, is the September non-farm payrolls report due out on Friday morning.
“While stocks are dealing with a variety of concerns — including escalating tensions in the Middle East, port strikes and election uncertainty — liquidity is key, and now that the Fed has begun cutting interest rates, there’s plenty of liquidity… which means Sanctuary Wealth Chief investment strategist Mary Ann Bartels said the market is likely to continue moving higher.
“Embrace October's volatility because this bull market still has plenty of momentum,” she added.