Nasdaq 100 Futures Show Modest Gain with Labor Market Concerns

S&P 500 futures remained steady, while Nasdaq 100 futures saw a slight 0.2% increase. Investor focus has been on the job market, with recent data showing a slowdown. Wednesday's private payrolls report indicated fewer jobs added than expected, and Labor Department data revealed job openings in October were at their lowest since March 2021, prompting questions about continued labor market cooling.

In the stock market, Alphabet's shares rose 2.9% in premarket trading following its latest AI model release. Other major tech stocks showed mixed performance. Advanced Micro Devices experienced a 2.2% premarket increase after forecasting a significant market for its data center AI processors.

Looking ahead, traders largely anticipate the Fed to maintain interest rates at the upcoming meeting, with a 61% probability of a rate cut by March 2024, as per CME Group's FedWatch tool.

The Nasdaq is displaying uncertainty and indecisiveness in the markets ahead of tomorrow and next week's significant events. If a comeback occurs, the index could aim for the 15600 level, followed by 15220. Conversely, a bullish continuation could target the peak of 16600 seen in November 2021.