Stock Markets April 2, 2026

Wall Street futures hold steady ahead of Good Friday as markets await U.S. jobs data

Investors weigh geopolitical developments and prepare for the nonfarm payrolls report while holiday-thinned liquidity raises the risk of outsized moves

By Nina Shah
Wall Street futures hold steady ahead of Good Friday as markets await U.S. jobs data

U.S. stock index futures were modestly higher on Thursday evening as traders prepared for the Good Friday holiday and awaited the U.S. nonfarm payrolls report. Futures for the S&P 500, Nasdaq 100 and Dow Jones were largely unchanged by 20:19 ET (00:19 GMT). Sentiment improved after Iran said it is drafting a maritime protocol with Oman for the Strait of Hormuz, following earlier market unease triggered by comments from President Donald Trump about intensifying attacks on Iran over a "two to three weeks" timeframe. With markets closed on Friday, thin liquidity could amplify price moves and the payrolls release is expected to influence expectations for interest rates.

Key Points

  • U.S. futures were broadly steady by 20:19 ET, with S&P 500 Futures at 6,624.50, Nasdaq 100 Futures at 24,223.00 and Dow Jones Futures at 46,748.0.
  • Regular-session action closed mixed: S&P 500 little changed, Nasdaq Composite +0.2%, Dow Jones Industrial Average -0.1%; sentiment improved after Iran said it is drafting a protocol with Oman for Strait of Hormuz shipping.
  • The U.S. nonfarm payrolls report, due Friday, is expected to guide interest-rate expectations; markets will be trading with thinner liquidity ahead of the Good Friday holiday.

U.S. equity futures were broadly steady on Thursday evening as market participants positioned ahead of the Good Friday holiday and awaited a key U.S. labor-market report. By 20:19 ET (00:19 GMT), S&P 500 Futures stood at 6,624.50 points, Nasdaq 100 Futures were at 24,223.00 points and Dow Jones Futures traded flat at 46,748.0 points.

The regular session ended with mixed results. The S&P 500 finished little changed after a choppy day of trading, the Nasdaq Composite rose 0.2% and the Dow Jones Industrial Average slipped 0.1%.

Investor sentiment improved in afternoon trading when Iran's foreign ministry said it was preparing a protocol with Oman to manage shipping traffic through the Strait of Hormuz. That development followed early-session volatility sparked by remarks from President Donald Trump that Washington would ramp up attacks on Iran over the "two to three weeks." Market participants noted that the absence of a clear timeline and the possibility of further escalation had contributed to heightened moves across equities, commodities and currencies.

Attention now turns to the U.S. nonfarm payrolls report, due later on Friday. The data is widely viewed as a pivotal indicator of labor-market strength and is expected to influence the Federal Reserve's policy trajectory. A stronger-than-expected payrolls reading could reinforce market bets on a higher-for-longer interest-rate environment, while a softer print may increase expectations for rate cuts later in the year.

With U.S. exchanges closed on Friday for Good Friday, market liquidity is likely to be thin. Traders cautioned that lower participation could magnify price moves in response to the payrolls figures or any fresh geopolitical developments.


Clear market follow-ups include monitoring the payrolls report for signs of wage and employment momentum, watching energy and shipping-related assets for reaction to developments in the Strait of Hormuz, and observing volatility in currencies and equities should geopolitical tensions re-escalate.

Risks

  • Geopolitical escalation - Uncertainty around tensions with Iran could drive volatility in equities, commodities and currencies.
  • Ambiguous timeline from political remarks - Lack of clarity on the timing of potential military actions may inject further market instability.
  • Thin holiday liquidity - With markets closed on Good Friday, lower participation could amplify price moves following the payrolls release or other developments.

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