Dow, S&P eye new records ahead of jobs, manufacturing data

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Investors continue to celebrate the new year as U.S. stocks eye another record-setting session. 

Futures for all three of the major averages are higher by 0.2% putting the Dow Jones Industrial Average and S&P 500 on track to extend records hit Monday. 

Ticker Security Last Change Change %
I:DJI DOW JONES AVERAGES 36585.06 +246.76 +0.68%
SP500 S&P 500 4796.56 +30.38 +0.64%
I:COMP NASDAQ COMPOSITE INDEX 15832.798557 +187.83 +1.20%

Data on the number of job openings or JOLTS, due at 10 AM ET, is expected to come in at 11.075 just below the record 11.098 million reached during July. The ISM’s manufacturing purchasing managers index for December is expected to slip just over a point from November to 60.0, still signaling growth. 

Ticker Security Last Change Change %
USO UNITED STATES OIL FUND L.P. 54.83 +0.47 +0.86%

Oil also ticked higher to $76 per barrel ahead of OPEC’s first meeting of 2022. The allied oil-producing countries are expected to press ahead with restoring cutbacks in output made during the depths of the coronavirus pandemic as hopes grow that travel and demand for fuel will hold up despite the rapid spread of the omicron variant.

FORD DOUBLING F-150 LIGHTNING PRODUCTION

Ticker Security Last Change Change %
F FORD MOTOR CO. 21.77 +1.00 +4.81%

In stocks, Ford is in focus after the automaker has confirmed that it is increasing the planned capacity of the factory that will build the F-150 Lightning by nearly double to 150,000 trucks annually due to higher than expected demand.

The Associated Press contributed to this report.