Wall Street was quiet before the bell today ahead of more jobs data that markets hope will show a labor market cooling enough to convince the Federal Reserve to stop hiking interest rates, the Associated Press reports. Futures for the S&P 500 inched up 0.2% before markets opened this morning, while futures for the Dow Jones Industrial Average gained 0.1%.
The government issues its weekly layoffs report on Thursday, then follows up with its November jobs report on Friday. Traders widely expect the Federal Reserve to hold its key interest rate steady at its meeting next week, before potentially cutting rates in March, according to data from CME Group.
Campbell Soup Co. rose 1.6% in early trading after the soup and snack company beat Wall Street’s first-quarter profit forecasts.
Ahead of a day-long event for investors, McDonald’s said it expects to open nearly 10,000 restaurants over the next four years, aiming to have 50,000 restaurants in operation worldwide by the end of 2027. That pace of growth would be unprecedented, even for the world’s largest burger chain.
In other trading, U.S. benchmark crude oil shed 50 cents to $71.82 per barrel in electronic trading on the New York Mercantile Exchange. Brent crude, the international standard, gave up 53 cents to $76.67 per barrel.
The U.S. dollar ticked up to 147.18 Japanese yen from 147.15 yen.
