Stock index futures rise after Wall Street closes in red as labor market fears resurface

[Wall Street-Street Sign]
P_Wei/E+ via Getty Images

Stock index futures were in the green on Friday, as Wall Street hoped to reverse a red day on Thursday, driven by concerns about the labor market.

S&P 500 futures (SPX [https://seekingalpha.com/symbol/SPX]) +0.3%, Nasdaq 100 futures (US100:IND [https://seekingalpha.com/symbol/US100:IND]) +0.3%, and Dow futures (INDU [https://seekingalpha.com/symbol/INDU]) +0.2%.

Wall Street's major averages ended lower on Thursday after job cuts in October were significantly higher while traders awaited updates regarding the Supreme Court's decision on the legality of Trump tariffs.

'Wednesday saw a sharp yield sell-off following a solid ADP employment report and then better ISM services data. However, that move was completely reversed yesterday after a weak US job cuts release, with the 10-year Treasury yield falling -7.6 bps—its biggest daily decline since the US-China trade escalation on October 10. This triggered a global risk-off move," Deutsche Bank's Jim Reid said.

The U.S. shutdown continued to drag on, and it has now entered its 38th day.

"Turning to the U.S. shutdown, hopes for resolution swung back and forth over the past 24 hours. Senate Majority Leader John Thune has proposed a Senate vote today on a new continuing resolution that would reopen the government through January," Reid added.

"If the U.S. had a functioning government, we would be getting labor market data today. In the absence of a functioning government, economists’ fears do seem to be realized. Markets are starting to pay too much attention to unhelpful sentiment polls," UBS' Paul Donovan said.

Counting newspaper articles about job losses might not be the most insightful glimpse of the health of the labor market, Donovan added.

There are a few Federal Reserve speakers lined up for Friday, including Fed Vice Chair Philip Jefferson and Fed Governor Stephen Miran.

MARKET SNAPSHOT AS OF NOVEMBER 7, 2025 (4:11 AM ET)

CATEGORY
INSTRUMENT (TICKER)
LEVEL
CHANGE
% CHANGE

INDICES
Dow Futures (INDU [https://seekingalpha.com/symbol/INDU])
47,026.60
+114.30
+0.24%

S&P Futures (SPX [https://seekingalpha.com/symbol/SPX])
6,742.19
+21.87
+0.33%

Nasdaq Futures (US100:IND [https://seekingalpha.com/symbol/US100:IND])
25,211.27
+81.23
+0.32%

TREASURIES
U.S. 2-Year (US2Y [https://seekingalpha.com/symbol/US2Y])
3.58%
+0.012
+0.34%

U.S. 5-Year (US5Y [https://seekingalpha.com/symbol/US5Y])
3.71%
+0.018
+0.49%

U.S. 10-Year (US10Y [https://seekingalpha.com/symbol/US10Y])
4.11%
+0.023
+0.56%

U.S. 30-Year (US30Y [https://seekingalpha.com/symbol/US30Y])
4.71%
+0.025
+0.53%

COMMODITIES
Gold (XAUUSD:CUR [https://seekingalpha.com/symbol/XAUUSD:CUR])
4,005.35
+28.22
+0.71%

Silver (XAGUSD:CUR [https://seekingalpha.com/symbol/XAGUSD:CUR])
48.67
+0.64
+1.34%

Crude Oil (CL1:COM [https://seekingalpha.com/symbol/CL1:COM])
60.10
+0.67
+1.13%

CRYPTO
Bitcoin (BTC-USD [https://seekingalpha.com/symbol/BTC-USD])
101,412.93
+66.67
+0.07%

Click to enlarge

MORE ON MARKETS

* The 'Smart Money' Is Increasingly Abandoning This Rally [https://seekingalpha.com/article/4840038-smart-money-increasingly-abandoning-this-rally]
* 7000 Or Bust: Why Equity Valuations Can Stay Elevated [https://seekingalpha.com/article/4840019-7000-or-bust-why-equity-valuations-can-stay-elevated]
* The Correction Is Just Getting Started [https://seekingalpha.com/article/4839914-the-correction-is-just-getting-started]
* Trump-Putin summit canceled after Moscow sends memo to Washington - FT [https://seekingalpha.com/news/4512097-trump-putin-summit-canceled-after-moscow-sends-memo-to-washington---ft]