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

• StockStory Top Pick CRWD +2.46%
• BTC-USD +6.48% ES=F +0.27% NQ=F +0.21% YM=F +0.26%

US stock futures edged higher on Wednesday, with bitcoin (BTC-USD) also gaining as investors waited for a key jobs reading and other data to test high hopes for an interest-rate cut next week.

Dow Jones Industrial Average futures (YM=F) and S&P 500 futures (ES=F) both inched up roughly 0.2%. Contracts on the tech-heavy Nasdaq 100 (NQ=F) nudged up 0.1%, after the major Wall Street gauges finished Tuesday with gains across the board.

Meanwhile, bitcoin extended its bid to bounce back from a deep, weeks-long slump that pulled the token below $83,000 in recent days. The leading cryptocurrency rose to touch a two-week high above $93,000 on Wednesday before retracing gains somewhat.

Stocks are tentatively poised to resume their own modest rebound as focus zeroes in on the Federal Reserve policy decision next Wednesday, at the end of its two-day December meeting. Markets are pricing in 88% odds of a rate cut, even after Chair Jerome Powell acknowledged "strongly differing views" among Fed rate-setters.

An ADP report on private-sector employment in November could dent or cement those rate bets when it arrives at 8:15 a.m. ET. The shutdown delay to government data means there will be no monthly nonfarm-payrolls report this week. Given that, investors will closely parse the ADP data for fresh clues on labor-market trends and how they might influence the Fed’s next move.

Eyes are also on privately sourced data on services activity in November for insight into inflation last month. The next official update on consumer prices — the PCE print due Friday — is playing catch-up on September.

On the earnings front, Marvell Technology (MRVL) stock climbed over 10% in premarket after the US chipmaker's upbeat sales outlook and deal to buy Celestial AI. Shares of American Eagle Outfitters (AEO) also surged 10% after the retailer's strong start to the holiday shopping season. But CrowdStrike (CRWD) slipped despite giving upbeat AI-fueled guidance.

Next up are results from Salesforce (CRM), Macy's (M), and Dollar Tree (DLTR), all reporting Wednesday.

• 5 mins ago Grace O'Donnell

  Apple's leadership shift marks a 'major reset' in AI strategy

  Yahoo Finance's Hamza Shaban writes in today's Morning Brief newsletter:

  Read more here.

• 51 mins ago Karen Friar

  Marvell shares jump as chipmaker bolsters AI ambitions with Celestial deal

  Marvell Technology (MRVL) shares climbed over 10% in premarket after its quarterly earnings beat and news the US chipmaker plans to buy Celestial ​AI.

  Reuters reports:

  Read more here.

• Today at 11:39 AM UTC Jenny McCall

  Premarket trending tickers: GitLab, Okta, and Acadia Healthcare

  GitLab (GTLB) stock fell 8% before the bell on Wednesday after reporting a loss in its latest quarter despite posting double-digit sales.

  Okta (OKTA) stock dropped 4% during premarket trading on Wednesday. The cybersecurity company forecast fourth-quarter revenue above Wall Street estimates on Tuesday.

  Acadia Healthcare (ACHC) fell 30% before the bell on Wednesday. The company lowered its full-year outlook, citing higher-than-expected costs from patient-related litigation.

• Today at 9:15 AM UTC Karen Friar

  Bitcoin hits 2-week high but crypto sentiment remains fragile

  Bitcoin (BTC-USD) continued its tentative recovery on Wednesday, tapping its highest level in two weeks as cryptocurrencies more broadly look to bounce back from a weeks-long slump.

  The leading token rose to about $93,965, its highest intraday level since Nov. 17. It since has pared gains to trade below $93,000.

  CCC - CoinMarketCap • USD (BTC-USD) Follow View Quote Details 92,962.43 +5,661.41 +(6.48%) As of 12:50:00 PM UTC. Market Open. Advanced Chart

  Bloomberg reports:

  Read more here.

• Today at 8:50 AM UTC Grace O'Donnell

  American Eagle Outfitters stock jumps after CEO calls out 'record-breaking Thanksgiving weekend'

  American Eagle Outfitters (AEO) stock surged over 12% in premarket after the apparel retailer noted that its crucial holiday season was off to a strong start, boding well for the fourth quarter.

  “Strong momentum has continued into the fourth quarter, including an excellent start to the holiday season," CEO Jay Schottenstein said in the release late Tuesday. "We delivered a record-breaking Thanksgiving weekend, led by an acceleration in demand across brands and channels and underscored by outstanding growth at Aerie and Offline."

  For the third quarter, ended Nov. 1, American Eagle reported profit per share of $0.53, surpassing estimates of $0.43 per share. Revenue for the quarter was $1.36 billion, a 6% increase year over year and slightly better than estimates.

  Overall, same-store sales increased 4%, led by an 11% increase in Aerie comparable sales, while American Eagle comparable sales grew 1%.

  For the fourth quarter, American Eagle expects same-store sales to grow 8% to 9% year over year. Comparable sales are expected to increase by low single digits for the full year.

  NYSE - Delayed Quote • USD (AEO) Follow View Quote Details 20.83 -0.42 (-1.98%) At close: December 2 at 4:04:52 PM EST Advanced Chart
• Today at 4:14 AM UTC Rian Howlett

  Silver notches new record as Fed rate, supply concerns pushes price higher

  Bloomberg reports:

  Read more here.

• Today at 3:18 AM UTC Rian Howlett

  Anthropic opens up discussions for potential IPO in early 2026

  Reuters reports:

  Read more here.