Stock Market Today: Dow Jones, S&P 500 Futures Gain After Strong Job Report—Micron, Novocure, Fastly In Focus

(Editor’s note: The futures prices and ETFs movements were updated in the story)

U.S. stock futures rose on Thursday following Wednesday’s decline. Futures of major benchmark indices were higher after the strong January jobs report.

Meanwhile, the 10-year Treasury bond yield stood at 4.175%, and the two-year bond yield was 3.502%. The CME Group’s FedWatch tool‘s projections show markets pricing a 94.1% likelihood of the Federal Reserve leaving the current interest rates unchanged in March.

Index	Performance (+/-)
Dow Jones	0.19%
S&P 500	0.25%
Nasdaq 100	0.22%
Russell 2000	0.59%

Stocks In Focus

Micron

MU maintains a strong price trend over the short, medium, and long terms, as per Benzinga’s Edge Stock Rankings.

Novocure

NVCR maintains a strong price trend over the short and medium, but a weaker trend over the long term, as per Benzinga’s Edge Stock Rankings.

Fastly

FSLY maintains a strong price trend over the short, medium, and long terms, as per Benzinga’s Edge Stock Rankings.

McDonald’s

MCD maintains a strong price trend over the short, medium, and long terms, as per Benzinga’s Edge Stock Rankings.

Applovin

APP maintains a weak price trend over the short, medium, and long terms, as per Benzinga’s Edge Stock Rankings.

Cues From Last Session

Insights From Analysts

Analysts at the Schwab Center for Financial Research noted that investors will be waiting for round two with the Consumer Price Index (CPI) set to be released on Friday.

“The market is aggressively pricing out rate cuts for this year after the jobs report,” said Kevin Gordon, head of macro research and strategy at the Schwab Center for Financial Research.

The chances of a Federal Reserve rate cut next month fell dramatically to just 6% from 20% earlier this week, while chances of at least one rate cut by June now stand at less than 60%, down from 75% on Tuesday, the analyst said.

“The Fed looks vindicated in saying there has been some stabilization in the unemployment rate. The three-month average of nonfarm payroll growth shifted up to 73,000 in January, the highest since February 2025,” he added.

Upcoming Economic Data

Here’s what investors will be keeping an eye on Thursday.

• Initial jobless claims data for the week ending Feb. 7 will be released at 8:30 a.m. ET.
• January’s existing home sales data will be out by 10:00 a.m., and Fed governor Stephen Miran will speak at 7:00 p.m. ET.

Commodities, Gold, Crypto, And Global Equity Markets

Crude oil futures were trading higher in the early New York session by 0.36% to hover around $64.86 per barrel.

Gold Spot US Dollar declined 0.47% to hover around $5,059.50 per ounce. Its last record high stood at $5,595.46 per ounce. The U.S. Dollar Index spot was 0.03% higher at the 96.8610 level.

Meanwhile, Bitcoin (CRYPTO: BTC) was trading 0.15% higher at $66,906.94 per coin.

Asian markets closed mixed on Wednesday, as China’s CSI 300 surged, while India’s Nifty 50 declined. Australia’s ASX 200, Japan’s Nikkei 225 and South Korea’s Kospi indices rose, while Hong Kong’s Hang Seng declined. European markets were mostly higher in early trade.

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