交易员评估劳动力数据，股指期货持稳

Stock index futures were steady on Thursday, a day after Nasdaq and S&P 500 rallied, helped by a boost from Alphabet shares, while investors digested more labor data. 

S&P 500 futures (SPX) +0.1%, Nasdaq 100 futures (US100:IND) +0.2%, and Dow futures (INDU) -0.1%.

The 10-year Treasury yield (US10Y) fell 2 basis points to 4.19%. The 2-year yield (US2Y) fell 1 basis point to 3.61%.

Job cuts climbed 39% in August, boosting the YTD total higher than all of 2024.

U.S. private sector employment continued softening, slightly more than expected, in August.

Wall Street closed mostly higher on Wednesday, with the Nasdaq and S&P 500 advancing while the Dow finished near the flat line, as investor sentiment got a bit of a boost after Google avoided steep penalties in a pivotal regulatory case.

"The global bond selloff finally paused for breath yesterday, as weak U.S. data meant investors ramped up their expectations for Federal Reserve rate cuts this year. The main catalyst was the JOLTS report for July, which showed that job openings fell to a 10-month low and exacerbated fears about a labor market slowdown," Deutsche Bank's Jim Reid said. 

It is a labor data heavy week. The August ADP employment report and the initial jobless claims will land before the opening bell. The former is expected to come in at 73K and the latter at 230K.

"The initial and continuing jobless claims data has no bearing on tomorrow’s employment report but does keep the focus on labor market direction," UBS' Paul Donovan said. 

The August PMI composite final and the ISM services index will land during market hours. The former is expected to come in at 55.4 and the latter at 50.9.

"Perhaps the most interesting data today will be the prices paid components in the ISM services release.... Last month it climbed to 69.9, which, if you took at face value from the graph predicts over 5% CPI in the coming months. Now clearly that's highly unlikely, as the prices paid are more prone to spikes than CPI, but it shows where the momentum and risks are for now. So markets do need to see this mean revert lower soon," Reid said.

The Fed balance sheet will come in later in the day. 

On more of the political side, President Donald Trump on Wednesday urged the Supreme Court to quickly accept and rule on an appeal aiming to overturn lower court rulings that deemed most of his tariffs illegal.