Market Anticipates Fed Rate Cut as Labor Data Softens; Tech Stocks Show Resilience

US stock futures hovered NEAR flatline as fresh labor market data fueled expectations for a Federal Reserve rate cut in September. Dow Jones Industrial Average futures dipped 0.1%, while S&P 500 and Nasdaq 100 futures edged up marginally. The market's reaction follows Wednesday's jobs report showing continued cooling—a development that solidified bets on imminent monetary easing.

Tech stocks outperformed, buoyed by Alphabet's legal victory in an antitrust case. The Nasdaq Composite climbed as investors shrugged off regulatory concerns. After-hours trading saw volatility in individual names: Salesforce tumbled on weak guidance, while American Eagle surged on celebrity-driven marketing optimism.

All eyes now turn to Thursday's ADP payroll figures and jobless claims—critical indicators that could further shape rate expectations. Earnings reports from Broadcom, Lululemon, and DocuSign may provide additional market-moving catalysts ahead of Friday's pivotal August jobs report.