Futures Rise On Easing Trump-Musk Spat As Payrolls Loom

S&P 500 futures rose 0.4% as Tesla shares rebounded 4% in premarket trading, signaling a cooling of the spat between President Donald Trump and Elon Musk. Market gains were cautious ahead of Friday's pivotal payrolls report, which is expected to set the direction of travel for markets. Nasdaq futures also added 0.5%, despite Broadcom shares falling 3% in premarket after a lackluster revenue forecast. European stocks were little changed, while bond yields were 1-2 basis points lower. The USD was higher, and the yen dropped after reports that Bank of Japan may discuss slowing their pullback from buying government bonds. Commodities were mostly higher, with gold climbing $6 to around $3,358/oz and silver topping $36/oz. WTI fell 0.6% to $63 a barrel, while the Bloomberg Dollar Spot Index rose 0.2%. The payrolls report is expected to show a rise of 125,000 jobs, with the unemployment rate holding at 4.2%. A weak payrolls report could send stocks down 1.5%, according to Goldman Sachs traders.