U.S. stock futures were mixed on Thursday as the Dow Jones and S&P 500 indices rose, while the Nasdaq 100 fell. Investor attention is focused on the upcoming June nonfarm payrolls report, projected to rise by 100,000, which is set to be released ahead of the opening bell. Trading volume is expected to be light ahead of the data, with the market closed on Friday, July 3, in observance of Independence Day.

The market performance follows the strongest quarter since 2020 for U.S. stocks, a milestone highlighted by President Donald Trump following positive developments in indirect U.S.-Iran negotiations. Trump stated that the denuclearization of Iran is moving along well, easing global energy supply fears. The 10-year Treasury bond yielded 4.49%, and the two-year bond was at 4.17%, with markets pricing a 70.6% likelihood of the Federal Reserve leaving interest rates unchanged in July.

Futures Performance

The SPDR S&P 500 ETF Trust (NYSE: SPY) and Invesco QQQ Trust ETF (NASDAQ: QQQ) were mixed in premarket trading. SPY was up 0.064% at $746.24, while QQQ declined by 0.17% to $723.93.

Stocks in Focus

Franklin Covey Co. (NYSE: FC) dropped 19.69% in premarket trading after lowering its full-year revenue guidance to a range of $260 million to $267 million, down from prior guidance of $265 million to $275 million. This move overshadowed stronger profit growth in its third quarter.

Surgepays Inc. (NASDAQ: SURG) surged by 43.34% after signing an agreement with AT&T Inc. (NYSE: T) to eliminate the $50 million minimum spend commitment. Conversely, Micron Technology Inc. (NASDAQ: MU) tumbled by 2.10% as CEO Sanjay Mehrotra noted that AI-driven memory demand had exceeded customer expectations and that industry supply was likely to remain constrained beyond 2027.

CoreWeave Inc. (NASDAQ: CRWV) declined by 1.43%, and Nebius Group NV (NASDAQ: NBIS) fell 0.21%. The slide continued as Meta Platforms Inc. (NASDAQ: META) announced it is preparing to expand into the cloud infrastructure market. Culp Inc. (NASDAQ: CULP) was 1.62% higher after posting mixed results for the fourth quarter.

Market Cues and Analyst Insights

Communication services, financial, and consumer discretionary stocks recorded the biggest gains on Wednesday, while information technology and utilities underperformed. Senior Global Market Strategist Scott Wren maintains an optimistic outlook, noting that while heavyweights in Tech and Communication Services have temporarily held the S&P 500 Index below its record high, underlying market breadth is expanding.

Wren emphasized that price participation is diversifying, signaling better underlying market health than some investors assume. Wells Fargo Investment Institute projects a robust 25% earnings growth rate for the S&P 500 this year, followed by an additional 13% gain in 2027, with a long-term year-end 2027 index target of 8,600–8,800.

Upcoming Economic Data

Investors are awaiting initial jobless claims for the week ending June 27, June’s nonfarm payrolls employment report, June’s unemployment rate, and average hourly earnings data, all due by 8:30 a.m. ET. May’s factory orders data will be released by 10:00 a.m. ET. No economic events are scheduled for Friday.