Tonight’s Highlights | “Little Nonfarm” Unexpectedly Turns Negative, U.S. Futures Weaken in Hesitation

Pre-market Wednesday, U.S. stock futures softened due to unexpected negative employment data raising concerns about the economy, with Dow futures down 0.08%, S&P 500 futures off 0.05%, and Nasdaq 100 futures sliding 0.16%—Tesla briefly surged nearly 6% after Q2 delivery data, nudging futures higher.

The latest ADP report revealed a 33,000 job loss in private payrolls last month, well below the expected 100,000 gain, though futures reaction remains subdued, partly due to post-pandemic doubts about the “little nonfarm” data’s predictive power—official jobs data will release Thursday morning ahead of Friday’s holiday, with economists forecasting 110,000 new jobs for June.

U.S. stock market trends reflect a complex mix of sentiments. After April’s sharp volatility, market mood is heating up, with the S&P 500 forming a “golden cross” Tuesday—its 50-day moving average crossing above the rising 200-day average, a bullish momentum signal for traders.

Beyond market indicators, capital markets are eyeing Congress.

 

After the Senate narrowly passed Trump’s massive legislative package Tuesday, the House resumed deliberations, though GOP dissent over differences with the late May House version limits Speaker Johnson’s room to lose more than 3 Republican votes before Friday’s holiday deadline.

Company news

“Wood Sister” Snaps Up Tesla on Dip

 

Amid a fresh Musk-Trump “verbal spat” and Tesla’s stock plunge, Ark Invest’s star manager Cathy Wood boosted her stake, buying 56,368 Tesla shares worth $17.91 million Tuesday.

 

Intel Considers Skipping 18A for 14A

 

Market buzz suggests Intel’s new CEO Pat Gelsinger may overhaul its foundry business, leaping to 1.4nm (14A) tech to rival competitors, following TSMC’s April 1.4nm reveal targeting 2028 mass production.

 

Bezos Sells Amazon Stock Post-Lavish Wedding

 

An SEC filing Tuesday revealed Amazon founder Jeff Bezos sold over 3.3 million shares ($737 million or 5.28 billion yuan) in recent days—his first Amazon sale this year.

 

Wall Street Giants Hike Dividends, Announce Big Buybacks

 

As major banks like JPMorgan, Goldman, Bank of America, and Morgan Stanley passed looser Fed stress tests, they raised dividends and authorized up to $50 billion and $20 billion in stock buybacks, respectively.

 

SoftBank’s Ampere Deal Faces Deeper FTC Scrutiny

 

SoftBank’s acquisition of chip designer Ampere Computing LLC may face extended U.S. government review, with the FTC issuing a second information request, signaling potential delays or a block after a year-long probe in some cases.