Nasdaq and Dow Jones seen rising ahead of delayed jobs report

• Dow Jones futures up 0.1%, set for further record highs after notching three consecutive record closes, most recently at 50,188
• Expected NFP report shows 66,000 jobs added in January versus 50,000 in December, with White House representatives reportedly trying to 'dial down expectations'
• Markets pricing 40% probability of Fed rate cut by April, with weak jobs data despite 4.4% Q3 GDP growth showing divergence between economic growth and employment trends

Market Summary: US Futures Rise Ahead of Delayed Jobs Report

Market Overview:

US equity futures opened modestly positive on Wednesday, February 11, 2026, ahead of the delayed January non-farm payrolls (NFP) report. Dow Jones futures gained 0.1%, S&P 500 futures up 0.1%, and Nasdaq 100 futures rose 0.2%. The Dow reached its third consecutive record close on Tuesday at 50,188 (+52 points, +0.1%), while the S&P 500 fell 0.3% to 6,942 and the Nasdaq dropped 0.6% to 23,102.

Key Economic Data:

The delayed NFP report, scheduled for 8:30 AM ET, is expected to show 66,000 jobs created in January, up from 50,000 in December. This weak employment data contrasts sharply with the robust 4.4% GDP growth rate recorded in Q3, highlighting a divergence between economic growth and employment trends. Slower retail sales data added caution during the previous session.

Market Implications:

Markets are pricing in a 40% probability of a Federal Reserve rate cut in March or April. Analysts at Scope Markets suggest weak jobs data could pressure Fed Chair Powell to ease policy before his May departure. White House representatives Peter Navarro and Kevin Hassett have attempted to lower expectations for the report.

Currency and Commodities:

The DXY dollar index declined 0.1% to 96.72, reflecting shifting expectations around potential Fed cuts and a dovish stance from potential successor Warsh. West Texas Intermediate crude jumped 2.1% to $65.32 per barrel, while gold, silver, and copper all traded higher.

Outlook:

A weak NFP report followed by weak inflation data on Friday could accelerate the Fed's timeline for rate cuts.