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Pre-Markets Up for Nasdaq, JOLTS Data After the Bell

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Wednesday, September 3, 2025

Pre-market futures are trading at muted levels this morning, with the exception of the Nasdaq, which is up triple digits (+0.72%) at this hour. This reflects the judge’s ruling yesterday afternoon in favor of Google parent Alphabet (GOOGL - Free Report) , in which the search giant is not required to divest its Chrome web browser.

Alphabet’s default search placement and payment relationship with Apple (AAPL - Free Report) is allowed to remain in place, and this was one of the question marks surrounding this case. While shares of Alphabet are up +6% ahead of today’s open — +42% year to date — while Apple shares are +3.5% at this hour, though still down -8% year to date.

Macy’s Rips Earnings Estimates, +13% in Early Trading


Among the last of the big-box retailers to report earnings, Macy’s (M - Free Report) this morning posted a huge beat on its bottom line: earnings of 41 cents per share versus expectations of 19 cents, for a whopping +113.8% positive surprise. On the revenue side, Macy’s outpaced the consensus by +1.99% to $4.81 billion in the quarter, though still down from the $4.94 billion reported in the year-ago quarter. Macy’s shares are still down year to date.

Jobs Data to Report After the Open: JOLTS for July


At 10am ET today, the latest Job Openings and Labor Turnover Survey (JOLTS) report comes out, for the month of June. At 7.4 million openings expected, this is right in-line with what we saw the prior month, and within the year-plus range between the September 2024 low of 7.1 million and the 12-month high last November of 8.0 million.

In the previous report, JOLTS were shrinking in a couple key areas: -308K in accommodation and food services, and -244K in healthcare and social assistance. These supply some of the “backbone” to the overall labor market, so we’ll be sure to take a look under the hood later today. The Midwest region shed the most job openings in June: -149K. Job Quits remained at +2.0% for the third-straight month.

What to Expect from the Stock Market Today


Aside from the JOLTS report later this morning, we’ll also look for July Factory Orders to hit the tape, as well as a new Beige Book from the Fed this afternoon and Auto Sales for August at different points throughout the session. Factory Orders are expected to be negative again, though improving to -1.3% for the month.

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