The stock market is in for a crucial day as Dow Jones, S&P 500, and Nasdaq futures show slight gains ahead of the much-anticipated jobs report and Federal Reserve Chair Jerome Powell’s speech. Investors are watching closely as economic uncertainty, interest rate expectations, and Trump’s latest Bitcoin move shake up Wall Street.
Stock Market Update: Dow, S&P 500, and Nasdaq Futures Move Higher
Stock futures are showing some strength early Friday after a rough week for equities.
- Dow Jones Industrial Average Futures rose by 0.1%
- S&P 500 Futures climbed 0.3%
- Nasdaq 100 Futures gained 0.4%
Despite these gains, Nasdaq remains in correction territory after a sharp decline on Thursday. Tech stocks have struggled, with AI-related stocks seeing mixed reactions from investors.
February Jobs Report: A Key Market Catalyst
The Bureau of Labor Statistics (BLS) will release the February jobs report at 8:30 AM ET, and it could be a game-changer for Wall Street. Analysts expect:
- 160,000 new jobs added in February
- Unemployment rate to hold steady at 4%
The stock market is in a vulnerable position, and a weak jobs report could trigger a further decline. Citi’s head of U.S. equity trading strategy, Stuart Kaiser, said,
“A strong jobs number helps, but it’s not enough to erase current market concerns. If the report comes in weak—below 125,000 jobs added, or unemployment ticks up—expect a sharp selloff in stocks.”
Investors are hoping for strong hiring numbers to ease recession fears but also don’t want job growth to be too hot, which could delay potential Federal Reserve rate cuts.
Also Read: CrowdStrike Earnings Beat Estimates, But 2026 Outlook Leaves Investors Unsure
Fed Chair Jerome Powell’s Speech: What to Expect
Federal Reserve Chair Jerome Powell is scheduled to speak on Friday morning, and the market will be paying close attention. Powell’s speech comes just before the March 18-19 Federal Reserve policy meeting, where interest rate decisions will be made.
Key topics Powell may address:
- Will the Fed cut interest rates in 2024?
- How are inflation concerns evolving?
- What is the Fed’s view on Trump’s trade policies?
If Powell signals no rate cuts in the near future, it could cause another downturn in stocks. If he hints at easing monetary policy, markets may rally.
Trump’s Bitcoin Move: U.S. Government to Hold a Strategic Bitcoin Reserve
In a surprising move, President Donald Trump signed an executive order establishing a U.S. strategic Bitcoin reserve.
- The reserve will be funded with 200,000 Bitcoin currently owned by the U.S. government through asset forfeitures.
- A full audit of government-owned Bitcoin has been ordered.
- The announcement comes right before Trump’s “crypto summit” scheduled for today.
This move has created uncertainty in the crypto market, and Bitcoin prices have dropped below $90,000 following the news. Traders were expecting a bullish run, but concerns over government control of Bitcoin have made investors cautious.
Just a few minutes ago, President Trump signed an Executive Order to establish a Strategic Bitcoin Reserve.
The Reserve will be capitalized with Bitcoin owned by the federal government that was forfeited as part of criminal or civil asset forfeiture proceedings. This means it…
— David Sacks (@davidsacks47) March 7, 2025AI Chip Stocks: Broadcom vs. Marvell – A Mixed Picture
AI stocks have been under pressure, but Broadcom (AVGO) provided a boost after a strong earnings report and an optimistic outlook for AI demand.
- Broadcom shares surged in premarket trading.
- Marvell Technology (MRVL) fell after weak earnings and guidance.
AI chips remain a key growth sector, and Broadcom’s positive forecast restored some confidence after Marvell’s disappointing results.
Morgan Stanley analysts commented,
“Broadcom’s earnings report is a much-needed relief for AI investors. It shows that demand for AI chips is still strong.”
Trade War Tensions: Trump’s Tariff Delays Keep Markets on Edge
Trump paused tariffs on imports from Mexico and Canada until April, but the move failed to provide relief for the stock market.
- Canada responded by delaying retaliatory duties
- Mexico has yet to react but is reviewing its tariffs on China
Global trade tensions remain high, and investors are worried about prolonged economic uncertainty. Markets tend to react negatively to any signs of a worsening trade war.
Key Takeaways and What to Watch Next
- February Jobs Report (8:30 AM ET): A strong report could support stocks, while a weak one may trigger a selloff.
- Jerome Powell’s Speech: Investors need clarity on interest rate expectations.
- Bitcoin’s Reaction: Will Trump’s new Bitcoin policy push prices higher or lower?
- AI Stock Trends: Can Broadcom’s strong forecast lift the AI sector?
With all these market-moving events happening today, investors should be prepared for a highly volatile trading session.
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