Stock futures fluctuated on Wednesday as the latest data showed the U.S. economy expanded at a slower rate than previously thought in the second quarter, fueling speculation the
Futures on the S&P 500 and Nasdaq 100 wavered after the second-print gross domestic product data. Earlier, a report showed U.S. companies this month added the fewest jobs since March, consistent with recent data showing moderating labor demand.
Among individual movers, HP Inc. slumped almost 10% in premarket trading after the technology hardware company cut its full-year cash flow and profit outlook.
The S&P 500 climbed by the most since June on Tuesday after unexpectedly soft jobs and consumer-confidence readings raised hopes the Federal Reserve may be nearing the end of its tightening cycle. Investors will monitor key non-farm payrolls numbers on Friday to further ascertain the economy's resilience to high interest rates.
"Data is king right now in terms of market sentiment," said Susannah Streeter, an analyst at Hargreaves Lansdown Plc. "The non-farm payroll snapshot on Friday will crown the week, and if it points to a fresh slowdown in hiring, we could see another spurt in stock prices."
