U.S. stock futures traded near flat on Friday as investors waited for important economic signals. Traders were cautious ahead of the monthly jobs report, which offers fresh data on hiring and unemployment. At the same time, markets braced for a possible Supreme Court ruling on tariff policy that could influence trade and investor confidence. Because of these events, many traders chose to delay major bets, keeping futures subdued and activity light.

Investors monitored futures tied to the Dow Jones Industrial Average, S&P 500, and Nasdaq 100. Meanwhile, mixed sector signals showed that markets were balancing optimism and caution as key data approached. Economic analysts said traders often prefer clarity on major reports before adjusting positions significantly.

📊 Jobs Report Could Shape Market Outlook

The upcoming U.S. nonfarm payrolls report is expected to show how hiring changed in December. Economists forecast moderate job gains and a slight dip in unemployment in the latest data. Because the Federal Reserve closely watches jobs numbers as an inflation and growth signal, the report could affect rate expectations later in 2026. If the data show weaker job growth, traders may expect future monetary easing. Conversely, stronger employment figures could reduce hopes for rapid policy changes.

Recent reports already showed that job growth slowed in December, with new positions added below expectations while the unemployment rate dipped slightly. This pattern has influenced sentiment because markets see slower job growth as a sign of broader economic moderation.

⚖️ Tariff Ruling Adds Uncertainty

Alongside jobs data, investors awaited a potential Supreme Court decision on the legality of sweeping tariffs implemented in recent years. A ruling on this issue could have significant implications for trade policy and corporate costs. Because tariffs affect import prices and supply chains, the decision could alter market expectations for sectors tied to global manufacturing and consumer demand.

If the court strikes down parts of the tariff program, some traders believe it could ease trade tensions and support economic activity. Conversely, a ruling upholding broad tariff authority might reinforce existing uncertainty about global trade. As a result, markets kept positions measured while awaiting the verdict.

📉 Broader Market Context

Stock markets in the U.S. showed resilience in recent sessions despite the uncertainty. Major indexes rose or held steady as investors digested economic data, corporate earnings, and policy signals. For example, some sectors, like utilities and materials, saw gains, while others showed mixed performance. Meanwhile, Treasury yields and the dollar also reacted to economic trends.

Analysts said that calm futures trading ahead of key reports is typical as traders seek fresh information before placing larger orders. With both jobs figures and tariff rulings pending, investors are preparing for volatility depending on the outcomes.