Stocks Gain Pre-Bell as Traders Parse Latest Employment Data

07:28 AM EST, 12/17/2025 (MT Newswires) -- The main US stock measures were tracking in the green in Wednesday's premarket activity as traders digest last month's jobs report, which showed the unemployment rate rose to a four-year high.

The S&P 500 and the Nasdaq rose 0.4% each before the opening bell, while the Dow Jones Industrial Average added 0.2%. The Dow and the S&P 500 finished Tuesday lower for the third consecutive session, while the Nasdaq rebounded after a three-day decline.

Delayed data from the Bureau of Labor Statistics on Tuesday showed that total nonfarm payrolls in the US increased by 64,000 in November, compared with Wall Street's view for a 50,000 gain. The unemployment rate ticked up to 4.6% last month, the highest since September 2021, according to the report.

The BLS also published a partial update for October, showing payrolls fell by 105,000 due to a sharp decline in government jobs.

"This is a soft outcome overall, with nonfarm payrolls growth averaging just (22,000) over the past three months," James Knightley, ING chief international economist in New York, said in a Tuesday report. "Given (Federal Reserve) Chair Jerome Powell's comments last week that they think payrolls are being overestimated by (60,000) per month, it indicates that the Fed is now effectively acknowledging the economy is losing jobs, which will push the doves to continue making the case for rate cuts."

Last week, the Fed reduced its benchmark lending rate by 25 basis points, marking a third straight cut amid continued concerns about the labor market.

Fed Governor Christopher Waller is scheduled to speak at 8:15 am ET, while New York Fed President John Williams speaks at 9:05 am. Atlanta Fed President Raphael Bostic speaks at 12:30 pm.

Treasury yields were pointing higher before the open, with the two-year rate inclining 3.1 basis points to 3.51% and the 10-year rate advancing 2.9 basis points to 4.18%.

The retail sales report for November is due at 8:30 am. Retail sales were flat in October as outlays on motor vehicles and at fuel stations declined, delayed data from the US Census Bureau showed Tuesday.

Wednesday's economic calendar also has the weekly mortgage applications bulletin at 7 am, followed by the business inventories report for October at 10 am. The weekly EIA domestic petroleum inventories report posts at 10:30 am.

West Texas Intermediate crude oil rose 2.1% to $56.44 a barrel in premarket action. In a social media post on Tuesday, US President Donald Trump said he has ordered a blockade of sanctioned oil tankers entering and leaving Venezuela. The US is also reportedly readying new sanctions on Russia's energy sector, if it rejects a peace deal with Ukraine, according to Bloomberg News.

Shares of Lennar (LEN) dropped 4% as the homebuilder issued a fiscal first-quarter delivery outlook below market estimates. Pfizer (PFE) was slightly in the red after closing Tuesday with a 3.4% decline.

Micron Technology (MU) is expected to report its latest financial results after the markets close. General Mills (GIS) , Jabil (JBL) , Toro (TTC) and ABM Industries (ABM) release their earnings before the bell, among others.

Gold moved up 0.3% to $4,345 per troy ounce, while bitcoin ticked down 0.8% to $86,954.

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