US Stock Market Today: S&P 500 Futures Edge Higher as Strong Jobs Data Dampens Rate-Cut Hopes

US stock futures are trading higher this morning, with S&P 500–linked contracts up around 0.3%, as investors balance strong labor market signals against evolving interest-rate expectations. Weekly jobless claims fell to 214,000, reinforcing signs that the US job market remains resilient—keeping upward pressure on wages and inflation.

Meanwhile, the 10-year Treasury yield has eased to roughly 4.16%, while markets are now pricing in no more than two rate cuts next year. This backdrop brings rate-sensitive sectors such as technology, small caps, and real estate into sharp focus, as investors weigh growth prospects against the risk of borrowing costs staying elevated for longer.

With hot jobs data colliding with still-stubborn yields, the case for undervalued, cash-flow-driven stocks is becoming increasingly compelling.

Top Movers

• Nike (NKE) surged 4.64% after Apple CEO Tim Cook publicly praised the brand.

• Micron Technology (MU) advanced 3.77% as investors rotated into memory and AI-infrastructure leaders.

• Target (TGT) gained 2.36% on steady consumer demand and optimism around holiday-season traffic.

Top Losers

• AST SpaceMobile (ASTS) fell 8.89%.

• Datadog (DDOG) declined 2.26%.

• Expand Energy (EXE) slipped 1.80%.