Today's Highlights | US Futures Consolidate as Markets Braced for "Staggered" Jobs Report

U.S. stock index futures moved within a tight range on Wednesday (Feb 11) as traders prepared for the long-awaited January Non-Farm Payrolls (NFP) report. Originally scheduled for early February, the data was delayed due to the federal government shutdown.

 

At the time of writing:Dow Futures Up 0.13%, S&P 500 Futures Up 0.10%, Nasdaq 100 Futures Up 0.05%.

 

In individual stocks, Micron Technology rose 2.5% pre-market after Deutsche Bank maintained its "Buy" rating and sharply raised its price target. Conversely, crypto-linked stocks faced pressure as Bitcoin retreated: Robinhood fell over 7%, Coinbase dropped 3.7%, and Strategy slipped 2.5%.

 

Economists expect the report to show minimal to stagnant job growth. The consensus estimate sits at 70,000 new jobs (following December's 50,000), with the unemployment rate steady at 4.4%. Krishna Guha, Head of Economic and Central Bank Strategy at Evercore ISI, noted that the relationship between growth and employment appears to be weakening, potentially due to broader economic uncertainty or the long-term impacts of AI on the labor market.

 

European markets were mixed during their sessions, with the DAX down 0.14% and the FTSE 100 up 0.69%.

Corporate News

Microsoft Explores HTS to Solve AI's "Power Bottleneck"

 

Microsoft disclosed in a new blog post that it is evaluating High-Temperature Superconducting (HTS) cables for its data centers.

 

By reducing power loss and increasing density, HTS could bypass current infrastructure constraints as AI demand surges. This move could reshape data center architecture and drive long-term demand for superconducting materials and advanced power grids.

 

EU Approves Google’s $32 Billion Acquisition of Wiz

 

EU antitrust regulators have officially cleared Google’s $32 billion acquisition of cybersecurity startup Wiz. Initially announced in March 2025, the all-cash deal—Google’s largest to date—aims to bolster its cloud security offerings and help it close the gap with competitors in the cloud computing space.

 

Stellantis-backed Battery Joint Venture Shelves European Gigafactories

 

Automotive Cells Company (ACC)—a JV between Stellantis, Mercedes-Benz, and TotalEnergies—has officially halted plans for battery gigafactories in Italy and Germany. The decision follows a significant cooling in EV demand, which recently forced Stellantis to take a €22 billion hit and scale back its electrification investments.

 

Eli Lilly’s Omvoh® Approved in China for CD and UC

 

Eli Lilly announced that its IL-23 inhibitor Mirikizumab (marketed as Omvoh®) has received NMPA approval in China. It is indicated for adults with moderate-to-severe active Crohn's disease (CD) and ulcerative colitis (UC).

 

TotalEnergies Q4 Adjusted Net Income Beats Expectations

 

TotalEnergies reported Q4 adjusted net income of $3.84 billion, slightly ahead of the $3.81 billion forecast. Production reached 2.55 million barrels of oil equivalent per day, exceeding estimates and helping offset weaker oil prices.