Nasdaq 100 and S&P500: US Indices Set Up for Volatile Moves Today on NFP Analysis Watch

• The S&P 500 holds above its 50-day moving average at 6,937.96, with potential bullish momentum toward record highs near 7,043.00 if support holds
• Nasdaq 100 faces critical resistance at a long-term downtrend line at 25,310.00, with a break above potentially triggering acceleration toward the 50-day MA at 25,640.25
• Major premarket movers include Mattel plunging 28% on weak guidance, Cloudflare surging 15% on strong revenue outlook, and Robinhood dropping 7% after missing estimates

Market Summary: US Indices Await NFP Data Amid Mixed Premarket Action

Market Overview:

US stock futures showed modest gains Wednesday morning ahead of delayed Non-Farm Payroll (NFP) data scheduled for 13:30 GMT. As of 11:53 GMT, E-mini Dow futures were up 0.12% (+61 points to 50,334), S&P futures rose 0.09% (+6.5 points to 6,968), and Nasdaq-100 futures gained 0.04% (+9.5 points to 25,227.75).

Key Economic Data:

The NFP consensus expects just 55,000 jobs added—barely above December's 50,000—with unemployment forecast at 4.4%. However, revisions may reveal significant weakness in 2025's labor market. Flat December retail sales data released Tuesday further suggests softening consumer spending. Weak jobs figures could make a June Fed rate cut certain and bring March cuts into consideration.

Previous Session:

Tuesday's trading was mixed: the S&P 500 fell 0.3% on AI-related concerns in financial services, the Nasdaq dropped 0.6%, while the Dow edged up 0.1% to another all-time high.

Notable Premarket Movers:

Major losers included Mattel (-28% on weak guidance), Lyft (-17% on soft EBITDA outlook), and Robinhood (-7% after missing revenue estimates). Gainers featured Cloudflare (+15% on strong revenue guidance) and Lattice Semiconductor (+12% on positive Q1 guidance).

Technical Outlook:

The S&P 500 is holding above its 50-day moving average at 6,937.96, with potential to test record highs near 7,043. The Nasdaq faces resistance at a critical downtrend line at 25,310, with a break above potentially triggering acceleration toward 25,640.

Market Implications:

Traders remain cautious as NFP revisions could significantly impact Fed policy expectations and market direction.