Stock market today: Dow, S&P 500, Nasdaq futures keep rebound alive as key ADP jobs data looms

Updated Wed, December 3, 2025 at 3:08 AM EST 1 min read

US stock futures edged higher on Wednesday, poised to maintain momentum on a modest rebound with jobs data on deck to help set interest-rate expectations ahead of the Federal Reserve policy meeting.

Contracts on the Dow Jones Industrial Average (YM=F), S&P 500 (ES=F), and tech-heavy Nasdaq 100 (NQ=F) all posted gains of around 0.2%.

The broader market finished Tuesday higher across the board, buoyed by heavyweight tech names including Nvidia (NVDA), while bitcoin (BTC-USD) bounced after its steepest drop since March.

Focus is mounting on the Fed’s Dec. 10 policy decision. Markets are currently pricing in roughly an 89% probability of a rate cut, according to the CME FedWatch tool. On Wednesday, traders will parse the ADP private payrolls report, due at 8:15 a.m. ET, for fresh clues on labor-market trends and how they might influence the Fed’s next move.

With government data still delayed after the shutdown and no nonfarm payrolls report coming this week, the ADP report will serve as one of the last major labor market indicators ahead of the central bank’s decision.

Meanwhile, President Trump continues to drive conversation around his pick to take over as Fed chair in early 2026, with National Economic Council Director Kevin Hassett widely considered as the favorite.

Earnings movers enlivened premarket trading, with shares of US chipmaker Marvell Technology (MRVL) jumping around 10% after a stronger-than-expected quarterly report. American Eagle Outfitters (AEO) stock surged 11% as the retailer raised its full-year outlook after a stronger-than-anticipated start to the holiday shopping season.

The next highlights are Salesforce (CRM), Macy’s (M), and Dollar Tree (DLTR), all reporting Wednesday.

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