US Stock Market Today: S&P 500 Futures Nudge Higher On Jobs Strength Fed Uncertainty
US stocks are earnings rose 0.4% month-over-month and 3.1% year-over-year. These metrics keep the focus on worker demand and underlying inflationary pressures as they relate to interest rate projections.
A labor market that continues to absorb workers at this velocity may keep borrowing costs elevated for a longer period, as policymakers face less pressure to implement easing. While higher wage growth can squeeze profit margins in labor-intensive sectors, companies with strong pricing power may find it easier to pass those expenses on to consumers.
The market open now hinges on a singular question: Will the strength in jobs and wages push the Federal Reserve toward a more hawkish stance in upcoming commentary and inflation reports, or will the easing of long-term inflation expectations provide room for a more patient policy approach?
Stocks to Watch Before the Opening Bell
Tesla is expanding its robotaxi service to San Antonio, following the launch of the platform in Austin in June 2025 and subsequent rollouts in other Texas and Florida markets. This expansion builds upon the fully driverless operations that commenced in Austin this past January. Investors are keeping a close watch on rider adoption, safety metrics, and local regulatory developments as Tesla grows its footprint beyond traditional vehicle manufacturing.
NVIDIA is collaborating with Rebellions and SK Telecom to bolster South Korea’s sovereign AI initiatives through the use of NVLink Fusion technology. Rebellions intends to integrate its next-generation R200 chips with NVIDIA’s platform, while SK Telecom plans to incorporate these systems into its AI data centers. Separately, concerns regarding OpenAI valuations could impact investor sentiment surrounding the demand for AI infrastructure.
Incyte is advancing two experimental cancer therapies for KRAS G12D-mutated pancreatic and colorectal cancers into late-stage trials, following early data that demonstrated significant objective response and disease control. Phase 3 studies are either underway or scheduled for 2027. For investors monitoring biotech risk, primary considerations include trial design, development timelines, and how future results compare to existing oncology treatments.
Top Movers
Rocket Lab (RKLB) surged 15.39% as traders responded to a sharp recovery following a period of extended share price declines.
Ubiquiti (UI) rose 15.29% after reporting record Q1 revenue, stronger-than-expected earnings, a cash dividend, and an upward revision to its price target.
Coherent (COHR) gained 13.58% after Citi increased its price target in the wake of solid quarterly results and updated financial guidance.
