NEW YORK, September 2, 2026, 09:00 EDT — Nasdaq futures slipped early after weaker-than-expected ADP jobs figures, while crude oil hovered near the $90 mark.
- Private payrolls in August increased by 38,000, falling short of the consensus forecast of 48,000.
- Futures tracking the Nasdaq-100 slipped 0.29%, while S&P 500 contracts were little changed at 08:55 EDT.
- WTI crude stayed close to $89.90, as the yield on the 10-year Treasury slipped to 4.784%.
- Shares of GitLab rose 25.3% in premarket trading, while MongoDB dropped 12.2%, following their respective earnings releases.
U.S. stock futures were mixed after private payroll data came in below expectations. Nasdaq-100 futures slipped 0.29% from the previous close by 08:55 EDT, while S&P 500 futures held near flat.
Treasury yields fell as job numbers came in weaker, but this did not spark a broad risk rally. Oil prices holding close to $90 maintained concerns over inflation.
The gap grew larger in the last hour. Nasdaq futures were down 0.13% since 08:00 EDT. Dow futures edged 0.06% lower but stayed up 0.16% compared to their levels at 04:00.
Futures changed direction inside the last hour
Percent change from each window’s opening price. September contracts.
As of . Source: Yahoo Finance delayed CME and CBOT data.
From 04:00 to 08:55 EDT, reported turnover amounted to 112,596 S&P contracts and 50,460 Nasdaq contracts. These two contracts accounted for the majority in the four-index sample.
Private sector payrolls increased by 38,000 in August, falling short of the 48,000 expected and decelerating from a revised July gain of 46,000. Manufacturing shed 17,000 jobs.
The services sector created 48,000 jobs, with education and health posting the strongest gains. Goods-producing industries shed 10,000 jobs. Base pay increased by 3.2% over the past year.
Hiring undershot the forecast
Change in private payrolls, thousands of jobs.
Sources: ADP and a Reuters poll of economists.
The steep decline on Tuesday provided minimal buffer. The S&P 500 slipped 0.7%, with the Nasdaq dropping 1.0%. WTI crude closed above $90 following fresh U.S.-Iran strikes.
Oil retreated to $89.90. The yield on the 10-year fell to 4.784% after touching 4.796%. Ryan Isherwood at Significance Capital stated that a rate increase ahead of the election is still improbable.
Regular-session breadth data was not accessible prior to the 09:30 market open. Four liquid funds served as proxies. Invesco QQQ Trust NASDAQ:QQQ underperformed, whereas SPDR Dow Jones Industrial Average ETF Trust NYSEARCA:DIA advanced.
Broad funds showed a narrow split
Premarket change from Tuesday’s regular close at 09:00 EDT.
No consolidated regular-session advance-decline count existed before the open. Source: Yahoo Finance delayed premarket prints.
Company earnings drove stronger price swings than broader market action. Shares of GitLab Inc. NASDAQ:GTLB surged 25.3% to $56.50. Dell Technologies Inc. NYSE:DELL advanced 9.2%, closing at $463.90.
GitLab posted a 21% increase in revenue, reaching $286.3 million. Chief Executive Bill Staples attributed the performance to “record gross bookings and net ARR growth exceeding 40% year over year.” GitLab results
Dell raised its full-year revenue midpoint to $192 billion and projected $74 billion in AI-server revenue. The updated guidance pushed shares higher.
MongoDB Inc. NASDAQ:MDB headed lower, dropping 12.2% to $381.28, even after reporting revenue growth of 30%. The company projected full-year revenue in the range of $2.99 billion to $3.03 billion.
Earnings gaps dominated single-stock risk
Premarket move from Tuesday’s regular close at 09:00 EDT.
Credo Technology Group Holding Ltd. NASDAQ:CRDO was $188.19. Sources: Yahoo Finance delayed premarket data and company releases.
Market participants await the release of final services data at 09:45 EDT. Factory orders are due at 10:00. The Federal Reserve’s Beige Book is scheduled for publication at 14:00.
Risks: Another surge in oil prices may push yields higher and weigh on growth stocks. Weaker hiring figures could worsen concerns about economic growth. Premarket movements are subject to reversal once cash trading opens.
Related articles: NASDAQ:MDB
