(Bloomberg) — Stock futures fluctuated as traders geared up for a reading on jobless claims for clues on whether the Federal Reserve’s policy is cooling the labor market too much.

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Equities struggled to find solid footing in early trading, following another session marked by volatility on Wall Street. The latest jobs report, which showed a material slowdown in hiring and an unexpected pickup in joblessness, heightened concerns about the economy. Those jitters have bolstered speculation the Fed would need to take more aggressive steps.

“Today focus will be on jobless claims, and a better-than-expected number will help incrementally ease slowdown fears,” said Tom Essaye at The Sevens Report. “Conversely, if claims jump above 250,000, expect recession worries to rise further and stocks to react accordingly (lower).”

It’s still busy on the corporate earnings front too. Eli Lilly & Co. soared after the company lifted its 2024 sales outlook for the second time this year on the strength of its blockbuster weight-loss drug Zepbound. Under Armour Inc. reported results that exceeded analysts’ expectations and raised its guidance as the sports gear brand restructures under returning founder Kevin Plank.

Treasury yields were also little changed in the run-up to jobless claims. After that, the market will be tasked with absorbing a $25 billion sale of 30-year bonds.

Some of the main moves in markets:

Stocks

S&P 500 futures rose 0.1% as of 8 a.m. New York time

Nasdaq 100 futures rose 0.1%

Futures on the Dow Jones Industrial Average fell 0.1%

The Stoxx Europe 600 fell 0.8%

The MSCI World Index fell 0.2%

Currencies

The Bloomberg Dollar Spot Index fell 0.1%

The euro was little changed at $1.0930

The British pound was little changed at $1.2696

The Japanese yen rose 0.3% to 146.17 per dollar