5 Things to Know Before the Stock Market Opens

Stock futures are slightly lower this morning ahead of the release of highly anticipated labor market data; the government is scheduled to release two months of employment figures that were delayed owing to the government shutdown; Ford is roverhauling its electric vehicle business amid stagnant demand in the U.S.; Oracle and Broadcom are among the tech stocks looking to reverse their recent slides; and Tesla shares enter today's session at their highest level of the year. Here's what you need to know.

Stock Futures Slip Ahead of Critical Jobs Data

Stock futures are ticking lower as investors await the release of two months of employment data that will provide a clearer picture about the health of the U.S. economy. Futures tied to the tech-heavy Nasdaq were off 0.3% recently, while those linked to the S&P 500 and the Dow Jones Industrial Average slipped 0.1%. On Monday, the major indexes lost ground as concerns around an AI bubble continue to pressure the tech sector. Gold futures were down 0.4% at $4,320 an ounce this morning, after approaching a fresh record high yesterday, while crude oil futures fell 1.6% to $55.90 per barrel. Bitcoin was trading at $87,100, up from an overnight low of $85,200. The yield on the 10-year Treasury note, which affects the costs of all sorts of consumer loans, ticked lower to 4.17%.

Long-Delayed Employment Numbers Due This Morning

Investors will get a double dose of jobs data on, with the government shutdown-delayed figures from October slated for released alongside November numbers at 8:30 a.m. ET. Economists estimate that the October numbers will show a decline in employment owing to mass layoffs of government workers. November employment growth is expected to come in at about 50,000 jobs, a relatively modest increase that would confirm the slowdown in the labor market. The Federal Reserve last week cut its key interest rate for the third time this year, citing concerns about the labor market, and the data released today will factor into the Fed's thinking about future rate adjustments. As of Tuesday morning, the CME Group's FedWatch tracker assigns just a 24% chance of a rate cut at the Fed's Jan. 28 meeting.

Ford to Take $19.5B in Charges Amid EV Business Restructuring

Ford (F) has announced a major shift in its electric vehicle strategy, with the Michigan automaker expecting to take on about $19.5 billion in one-time charges to account for the costs of its restructuring plans. Ford and other automakers are scaling back electric vehicle plans as demand in the U.S. has fallen after the Trump administration ended the $7,500 EV tax credit earlier this year. In its late-Monday announcement, Ford said its electric vehicle unit should be profitable by 2029 after making these changes, and said some of its battery-producing plants will shift to making stationary batteries for homes, businesses and data centers. The next generation of the brand's F-150 Lightning will also now be an extended range EV rather than a fully electric vehicle, and Ford said its plans to start introducing smaller, more efficient and affordable EVs continues on track for 2027. Ford shares were up 1.5% in recent premarket trading.

Oracle, Broadcom Stocks Look to Recover From Post-Earnings Slides

Shares of several tech stocks are looking to recover this week after recent slides, especially Oracle (ORCL) and Broadcom (AVGO), which have each tumbled since reporting earnings last week. Analysts are largely staying bullish on the stocks, but investors worry about an AI bubble inflating valuations in the market. In the three trading sessions since last Wednesday, when Oracle reported results after the bell, shares of Oracle and Broadcom have each lost more than 15% of their value. Investors are concerned about a range of issues facing the AI trade, from questions over how companies such as Oracle and OpenAI will finance their massive expansion plans while remaining financially stable, to the sustainability of AI demand outside of the few biggest tech companies. Shares of Broadcom and Oracle were little changed ahead of the opening bell.

Tesla Shares Trading at Highest Level of 2025

Telsa shares come into today's session at their high point of the year and not far from an all-time high. The company is facing the same lackluster EV demand in the U.S. as other automakers, along with international sales that are being hampered by increasing competition from Chinese automakers. However, investors are increasingly focused on other aspects of Tesla's business, such as its self-driving software, robotaxis, and humanoid robots called Optimus. After piloting its robotaxi program in Austin, Texas in recent months with a Tesla employee in the passenger seat, the company has recently started testing the vehicles' ability to drive autonomously with no one in the car. Tesla shares—which closed yesterday at $475.31, just off the record closing high of $479.86 set last December—were down 0.5% in recent premarket trading.

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