Nasdaq futures indicated an upward trajectory on Wednesday, following an unforeseen increase in the unemployment rate that resulted in declines for the Dow Jones Industrial Average and S&P 500 for the third consecutive session. Futures linked to the tech-heavy Nasdaq, the benchmark S&P 500, and the blue-chip Dow experienced increases of 0.5%, 0.4%, and 0.2%, respectively. Yesterday, the Dow and S&P 500 concluded the day with declines of 0.6% and 0.2%, while the Nasdaq experienced a modest increase of 0.2% after three consecutive sessions of losses, driven by concerns surrounding an AI bubble.

On Tuesday, investors analyzed the postponed nonfarm payrolls data, revealing that 64,000 jobs were created in November, surpassing expectations, while the unemployment rate unexpectedly rose to 4.6%, the highest level since July 2021. West Texas Intermediate futures briefly fell below $55 a barrel for the first time since early 2021 before rebounding nearly 2% to $56.30 on Wednesday after President Donald Trump ordered a blockade on sanctioned oil tankers entering and exiting Venezuela. Gold futures climbed 0.3% to $4,345 per ounce, nearing the record high of $4,398 set on October 20.

The 10-year Treasury yield rose to about 4.18% from 4.15% on Tuesday, while Bitcoin traded near $87,000 after touching an intraday high above $87,900. The U.S. dollar index advanced 0.4% to 98.53. In corporate news, Tesla shares were little changed in premarket trading after jumping 3.1% to a record high, extending gains of roughly 10% over the past three sessions following CEO Elon Musk’s comments about testing driverless vehicles in Austin, Texas.

Broadcom and Oracle shares, which rebounded 0.5% and 2.3% on Tuesday after sharp losses earlier in the week tied to disappointing earnings and AI trade concerns, rose another 1% each in premarket trading. Amazon gained 1.5% after a report said it is in talks to invest at least $10 billion in OpenAI and allow the company to use its AI chips. Micron Technology advanced 2.5% ahead of its quarterly earnings, while homebuilder Lennar slid 5% after reporting weaker-than-expected profits and issuing a cautious outlook amid a soft housing market.