The Dow Jones Industrial Average experienced a dip of approximately 0.3% on Wednesday, reflecting a period of market volatility ahead of the anticipated January jobs report. Stock futures tied to the Dow slipped slightly by 11 points, or 0.02%, on Thursday night. Traders are currently on edge, preparing for the release of the nonfarm payrolls report scheduled for Friday at 8:30 a.m. ET. Economist surveys by Dow Jones project a growth of 169,000 in nonfarm payrolls for the month, with the unemployment rate expected to remain stable at 4.1%.
Despite the mid-week decline, all three major averages are poised to end the week with modest gains. During Thursday's main trading session, the S&P 500 rose nearly 0.4%, while the Nasdaq Composite added 0.5%. The S&P 500 and Nasdaq have been tracking for respective weekly advances of 0.7% and 0.8%. However, the Dow lags slightly behind with an increase of about 0.5% for the week.
Investor sentiment was further impacted by Amazon's disappointing guidance for the first quarter, which projected revenue growth between 5% and 9%. This outlook overshadowed Amazon's impressive fourth-quarter performance, resulting in a 4% drop in its shares during extended trading.
"Cat in The Hat Markets"
"The Cat in The Hat Goes to Washington"
- Peter Atwater of Financial Insyghts
While these developments create a mixed economic backdrop, there was a positive note with the Trump administration's decision to pause tariffs on Canada and Mexico, potentially easing trade tensions.