"The futures are trading lower on Thursday after investors and traders tapped the brakes on the 2026 new year rally, as only the Nasdaq was able to grind out another gain, finishing the session at 23,584, up 0.16. After exploding higher to print new all-time highs on Tuesday, both the Dow Jones Industrials and the S&P 500 ended the day lower, with the former down 0.94% to close at 48.996 as Caterpillar Inc. ( NYSE: CAT) was hammered to the tune of 4.25%."
"Yields were mainly lower across the Treasury curve on Wednesday as buyers continued to snap up many intermediate- and longer-dated government bonds. Traders cited the weaker-than-expected ADP employment data, which showed a gain of 41,000 jobs versus expectations of 48,000. In addition, the Job Openings and Labor Turnover Survey (JOLTS) report indicated that job openings fell more than expected, reaching their lowest level in over a year."
Futures declined as only the Nasdaq eked out a gain while the Dow and S&P retreated after early-year rallies. Nasdaq finished at 23,584, up 0.16%; the Dow fell 0.94% to 48,996 and the S&P dropped 0.34% to 6,920. Caterpillar shares fell 4.25%. Some traders engaged in short-term profit-taking and rebalancing ahead of the December nonfarm payrolls report and after a weak ADP employment reading. Treasury yields moved lower as buyers targeted intermediate and longer-dated government bonds; the 30-year closed at 4.82% and the 10-year at 4.14%. Crude prices eased amid oversupply concerns, with Brent at $60.31 and WTI at $56.32.
Read at 24/7 Wall St.
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