Wall Street premarket today: Salesforce drops, futures inch up before ADP, jobless claims and ISM Services

Wall Street futures were slightly higher Thursday morning as investors braced for a wave of U.S. jobs data and the ISM Services PMI that could reset Fed rate-cut expectations. By the time screens lit up, S&P 500 and Nasdaq 100 futures were modestly green while Dow futures hovered near flat—classic positioning ahead of the 8:15 a.m. ET ADP report, 8:30 a.m. ET initial jobless claims, and 10:00 a.m. ET ISM Services. With Friday’s nonfarm payrolls looming, the next two sessions will dictate how aggressively markets price a September policy move and the shape of the Treasury curve.
The stock-specific picture was mixed. Salesforce (CRM) slid in premarket trading after a softer-than-expected revenue outlook, feeding the debate over how quickly AI copilots and agent platforms translate into cash flows. The disappointment kept a lid on software and broader megacap momentum. Newly public Figma also dropped after its first post-IPO scorecard failed to meet lofty expectations, and GitLab declined amid leadership changes that overshadowed improved full-year guidance.
Retail offered a brighter headline. American Eagle Outfitters (AEO) jumped after guiding to stronger comparable sales, helped by high-profile campaigns and disciplined inventory. The move reinforced a theme of selective consumer resilience—households are still spending, but they are choosy, value-oriented, and responsive to marketing that cuts through noise.
Across macro assets, the tone was more constructive than earlier in the week. Long-dated Treasury yields edged lower into the releases, reflecting hedging and a bias toward duration if data confirm labor-market cooling. Gold eased back from record highs above $3,500/oz, while oil slipped as traders weighed potential OPEC+ supply actions against mixed risk appetite. The U.S. dollar softened, mirroring rising odds of Fed easing and a tentative stabilization in ex-U.S. risk assets.
What to watch as the day unfolds:
Whether ADP and claims reinforce the narrative of cooling but not collapsing labor demand.
The ISM Services employment and prices-paid components for signals on services inflation.
After the bell, Broadcom’s earnings as a read-through on AI infrastructure and China exposure.