U.S. stock futures edged higher Tuesday as traders looked ahead to the Bureau of Labor Statistics’ preliminary nonfarm payrolls benchmark revision, which may reveal further signs of a slowing labor market. Investors also focused on corporate developments, including Oracle’s (NYSE:ORCL) post-market earnings report, the Anglo American (LSE:AAL)–Teck Resources (NYSE:TECK) merger, and ASML’s (EU:ASML) $1.5 billion investment in French AI start-up Mistral.
Futures inch up
By 03:42 ET, S&P 500 futures were up 15 points, or 0.2%, Nasdaq 100 futures rose 69 points, or 0.3%, and Dow futures climbed 81 points, or 0.2%. Optimism stems from expectations that the Federal Reserve may reduce interest rates soon to cushion the impact of a potentially weakening labor market.
The major indices on Wall Street posted gains in the previous session, with the Nasdaq Composite hitting a record high. Stocks including Robinhood and AppLovin rose on announcements of upcoming inclusion in the S&P 500 index. Broadcom jumped 3.2% after projecting robust AI-driven revenue growth, reaching a market capitalization of $1.6 trillion, ranking it seventh among U.S. companies.
Labor market revisions in focus
The BLS’s preliminary payroll benchmark is expected to provide insight into U.S. employment trends. Economists suggest a possible downward revision of up to one million jobs for the 12 months through March, reinforcing signs of a cooling job market that predate the import tariffs introduced by President Donald Trump in April.
Analysts also note that stricter immigration policies and automation fueled by AI may be dampening demand for certain roles. Last week’s BLS data showed slower job growth in August and the first net losses in June in four-and-a-half years, strengthening expectations for at least a 25-basis-point Fed rate cut next week.
Oracle earnings draw attention
Oracle is set to release its quarterly results after the market closes. Analysts at Vital Knowledge highlighted backlog—measured by remaining performance obligations, expected around $150 billion—and free cash flow, forecast at $1.8 billion, rebounding from a negative $2.9 billion in the previous quarter due to high capital expenditures.
In June, Oracle raised its annual revenue guidance, citing strong demand for cloud services powering AI solutions. CEO Safra Catz projected fiscal 2026 revenue of at least $67 billion, reflecting 16.7% growth compared to a prior outlook of 15%.
Anglo American and Teck merger
Anglo American and Teck Resources announced a merger to form Anglo Teck, valued at over $53 billion, creating one of the world’s largest copper producers. The combined company aims to meet rising demand for copper in renewable energy and AI-driven data centers. Both firms operate adjacent copper mines in Chile.
Under the agreement, London-listed Anglo American will hold 62.4% of Anglo Teck, while Teck will own 37.6%.
ASML invests in Mistral AI
ASML revealed a $1.5 billion (1.3 billion euros) investment in French AI start-up Mistral, becoming the company’s largest shareholder. The strategic partnership will explore AI applications across ASML’s product lines and R&D operations.
The funding is part of Mistral’s $2 billion Series C round, valuing the start-up at $11.7 billion (10 billion euros), potentially making it Europe’s most valuable AI company. Mistral is positioned as a European competitor to U.S. AI giants like OpenAI and Google. ASML, a leading supplier of advanced lithography equipment to TSMC and Intel, benefits from rising demand for AI-driven chips.
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