Stock market update: Futures for the Dow, S&P 500, and Nasdaq climb as Wall Street awaits the jobs report and Supreme Court ruling on tariffs

US Stock Futures Rise Ahead of Key Economic Events

Late Thursday, US stock futures inched upward as investors prepared for a crucial employment update and awaited a potential Supreme Court ruling that could significantly impact President Trump's tariff policies.

• Dow Jones Industrial Average futures () advanced by 0.2%.
• S&P 500 futures () and Nasdaq 100 futures () each edged up about 0.1%.

During Thursday’s trading session, leadership in the market shifted away from technology companies. The Nasdaq Composite () faced pressure due to declines in major tech names like Nvidia (), Palantir (), and Broadcom (). Meanwhile, the Dow Jones Industrial Average () climbed closer to its all-time high.

Major Market Catalysts on Friday

Investors are closely watching two significant developments on Friday:

1. Supreme Court Ruling on Tariffs: The high court is expected to issue a decision regarding the legality of tariffs enacted by the Trump administration. This verdict could have far-reaching consequences for US economic policy and international trade if the tariffs are deemed unlawful.
2. December Jobs Report: Before markets open, the latest employment data will be released. Economists polled by Bloomberg anticipate payrolls to increase by roughly 70,000, with the unemployment rate expected to dip to 4.5%. This report will play a crucial role in shaping the Federal Reserve’s upcoming interest rate decision, which is less than three weeks away.

Additionally, investors are keeping an eye on President Trump’s directive for the federal government to acquire $200 billion in mortgage-backed securities. This move is intended to help bring down mortgage rates and tackle affordability issues, though many specifics of the plan have yet to be clarified.

Weekly Market Performance

All three major US indexes are on track to finish the first full week of 2026 in positive territory. The S&P 500 has risen nearly 1% so far, while the Dow has gained about 1.8% and the Nasdaq is up approximately 1.1%.