US Session: U.S. Markets are Gearing up for a Positive Start on Wednesday

Here are five key things investors need to know before the start of the U.S. trading day:

1. Numbers game
The S&P 500 posted its third consecutive day of losses as investors digested labor market data from the past two months. The delayed statistics painted a familiar picture—modest hiring and few layoffs—and did not significantly change expectations for a possible rate cut in January.
Nonfarm payrolls rose by a seasonally adjusted 64,000 in November, above Dow Jones’ forecast of 45,000. The unemployment rate increased to 4.6%—higher than expected and the highest in over four years. The Bureau of Labor Statistics also released a revised report for October, showing a decline of 105,000 jobs. Dow Jones and the S&P 500 ended the day in the red, while the Nasdaq Composite closed higher. Meanwhile, U.S. crude oil prices fell to their lowest level since early 2021.

2. Robotaxis to record highs
Tesla shares rose 3%, reaching new intraday and historical highs, as investors bet on the company’s robotaxi ambitions. The rally was supported by comments from Elon Musk that Tesla is testing driverless autonomous vehicles in Austin. However, the company faces challenges—California courts ruled that marketing of “Autopilot” and “Full Self-Driving” features is misleading, giving regulators 60 days for corrections before penalties follow.

3. “Insufficient” offer
The board of Warner Bros. Discovery unanimously recommended that shareholders reject Paramount Skydance’s acquisition offer, labeling it “insufficient.” This came after Netflix announced a $72 billion deal for the company’s film and streaming assets. Meanwhile, Jared Kushner’s Affinity Partners withdrew from Paramount’s offer, and former President Donald Trump stated he would participate in the approval process for the Netflix deal.

4. Critical moment
House Speaker Mike Johnson said there would be no vote this week to extend expanded Affordable Care Act tax credits, effectively meaning subsidies will expire at year-end. If this happens, around 22 million Americans could face significantly higher health insurance costs next year.

5. “Hey, Siri, what’s next?”
Apple largely stayed on the sidelines of the AI race this year but has ambitious plans for 2026. The tech giant plans to launch the next-generation Siri voice assistant next year, after delaying the project from 2025. The new version is seen as an opportunity for Apple to catch up with competitors like OpenAI and Google.

U.S. stock futures rose on Wednesday after the S&P 500 posted its third consecutive losing session as investors assessed newly released economic data.

S&P 500 futures gained 0.3%, Nasdaq 100 futures rose 0.4%, and Dow Jones Industrial Average contracts added 117 points, or about 0.2%.

The U.S. Bureau of Labor Statistics released the November jobs report early Tuesday, including revised October data. The report provided a clearer picture of the U.S. economy following delayed statistics caused by the government shutdown earlier this fall.

Data showed that in October, the U.S. economy lost 105,000 jobs, and the unemployment rate rose to 4.6%—the highest level since September 2021. Meanwhile, November saw 64,000 new jobs created, surpassing Dow Jones’ forecast of 45,000.

On Tuesday, the S&P 500 fell 0.2%, and the 30-component Dow Jones dropped 302 points, or 0.6%, as investors digested the data. This marked the third consecutive day of losses for both indexes. Energy stocks were also under pressure as U.S. crude oil closed at its lowest level since 2021 amid concerns about potential oversupply. Exxon Mobil and Chevron shares fell about 2%.

“The economy has been slowing for a while, and there were many hopes in the market, but those expectations largely evaporated with this data,” said Bob Elliott, CEO of Unlimited Funds, on CNBC. He noted this is likely not the time for aggressive stock positioning, but rather a time to increase bond exposure at year-end.

On the economic front Wednesday morning, remarks are expected from Federal Reserve Governor Christopher Waller and New York Fed President John Williams. Markets are also focused on the upcoming release of the November Consumer Price Index on Thursday.